IMF warns against the ‘explosion of crypto-currencies’

The Managing Director of the International Monetary Fund (IMF) has warned that the explosion of crypto-currencies like Bitcoin will have stability implications for the global economy moving forward.

Advertisement

Christine Lagarde was speaking during the Spring Meetings of the IMF and World Bank in Washington.

“We have seen flourishing of crypto-currencies more than 100 of them, that has stability implications eventually. We don’t think it is systemic at this point in time, but we believe that regulators and supervisors have to be watchful, have to be attentive and we certainly do work in that regard and will be making proposals.”