Christine Lagarde, candidate for president of the European Central Bank, published a statement in Economic and Monetary Affairs Committee of the European Parliament, which outlined the principles that would determine her approach if her nomination was successful.
Christine Lagarde about cryptocurrencies
In her statement, Lagarde notes that while central banks should “ensure the security of the financial sector,” they should also be open to “the opportunities that cryptocurrencies represent.”
In particular, Lagarde recognizes that digital currencies are an area of innovation:
“New technologies, including digital currencies, are bringing about big changes, but you need to be careful about the risks associated with financial stability, privacy and criminal activity, and ensure proper regulation to channel technology to the public good.”
“But it also means recognizing the wider social benefits of innovation and providing them with opportunities for development.”
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- Lagarde was previously Managing Director of the International Monetary Fund. In July, she was appointed successor to Mario Draghi as president of the European Central Bank.
- Back in 2018, Christine Lagarde advocated the promotion and research of the Central Bank's digital currency (CBDC), given the declining demand for cash and the growing preference for digital money.
Editor: Yuliya Soroka