{"id":104555,"date":"2018-02-11T21:30:44","date_gmt":"2018-02-12T02:30:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=104555"},"modified":"2021-08-21T15:11:01","modified_gmt":"2021-08-21T19:11:01","slug":"christine-lagarde-cryptocurrency-regulation-is-inevitable","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/christine-lagarde-cryptocurrency-regulation-is-inevitable","title":{"rendered":"Christine Lagarde: Cryptocurrency Regulation Is Inevitable"},"content":{"rendered":"

With so many global attempts to regulate cryptocurrency, it seems fair to assume that someone, somewhere will eventually get their way, and according to International Monetary Fund chief Christine Lagarde, that time may be arriving sooner than we think.<\/strong><\/p>\n

Also see:\u00a0NY Fed Economists: Trustless Payments \u2018Not a Problem That Needs Solving\u2019<\/a><\/strong><\/em><\/p>\n

Subscribe to the\u00a0Bitsonline YouTube channel<\/a>\u00a0for great videos featuring industry insiders & experts<\/strong><\/em><\/p>\n

In a recent interview<\/a> with CNN<\/em>, Lagarde said that anyone who still believes regulation is out of the question isn\u2019t being realistic. She says a time will come when all digital currency will fall into government hands, and crypto activities will be monitored very carefully.<\/p>\n

\u201cIt\u2019s inevitable,\u201d she explained. \u201cIt\u2019s clearly a domain where we need international regulation and proper supervision. There is probably quite a bit of dark activity in cryptocurrencies.\u201d<\/p>\n

It May Not Be a Bad Thing<\/p>\n

For several months, crypto enthusiasts have sat back and watched helplessly as regulation tactics like threats and unofficial policy leaks have been deployed overseas, via nations like South Korea and China<\/a>.\u00a0In truth, the results haven\u2019t always been bad. Many, including the Winklevoss twins<\/a> of The Social Network <\/em>and Gemini fame, now see regulation as more of a booster than a problem, and the prices of various cryptocurrencies have even reflected that.<\/p>\n

This newfound attitude likely stems from last week\u2019s congressional hearing<\/a> in the U.S., where members examined the cryptocurrency market to see which activities could be monitored and regulated. Bitcoin fans even had something to cheer about towards the end after CFTC chairman Christopher Giancarlo explained that he viewed cryptocurrency as a strong asset<\/a>.<\/p>\n

Following this alleged support, bitcoin quickly rose to about $9,000<\/a>, though it didn\u2019t take long for another slump to set in. At press time, bitcoin is trading at approximately $8,400.<\/p>\n

Lagarde: Regulate Activities, Not Entities<\/p>\n

But it was clear, when all was said and done, that regulation may potentially be unavoidable, and Lagarde seemed to confirm this. She said that as the cryptocurrency market continues to grow, government officials can\u2019t help but pay closer attention. While they can\u2019t stop traders from getting involved, they can warn newcomers about potential scams and take what she calls necessary action to prevent missteps and future fraud. As Bloomberg<\/em> reported<\/a>:<\/p>\n

\u201cWe need to move to regulations of activities, not entities, because it\u2019s not going to be about the banks, and it\u2019s not going to be about the insurance,\u201d she stated. \u201cWe have to anticipate where the next crisis will come from. Will it be the shadow banking? Will it be cryptocurrencies rising to the sky? Asset prices have gone up massively; durably, and we all agreed, at that time, that there had to be a market correction.\u201d<\/p>\n

Other officials who feel cryptocurrency regulation is near include U.S. Treasury Secretary Steven Mnuchin. Speaking at a recent conference<\/a>, Mnuchin explained to his listeners, \u201cWe encourage fintech, we encourage innovation, but we want to make sure that all of our financial markets are safe and aren\u2019t being used for illicit activities.\u201d<\/p>\n

Do you feel regulation could lead to positive outcomes? Or does it defeat the original purpose of crypto? Post your comments below.<\/em><\/strong><\/p>\n

Images via Chicago Tribune, Bitzamp<\/em><\/p>\n

The post Christine Lagarde: Cryptocurrency Regulation Is Inevitable<\/a> appeared first on Bitsonline<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

With so many global attempts to regulate cryptocurrency, it seems fair to assume that someone, somewhere will eventually get their way, and according to International […]<\/a><\/div>","protected":false},"author":457,"featured_media":104556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-104555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nChristine Lagarde: Cryptocurrency Regulation Is Inevitable - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"In a recent interview with CNN Lagarde said that anyone who still believes regulation is out of the question isn\u2019t being realistic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Christine Lagarde: Cryptocurrency Regulation Is Inevitable\" \/>\n<meta property=\"og:description\" content=\"In a recent interview with CNN Lagarde said that anyone who still believes regulation is out of the question isn\u2019t being realistic.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-12T02:30:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-21T19:11:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/02\/regulation.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"665\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Nick Marinoff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Marinoff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555\"},\"author\":{\"name\":\"Nick Marinoff\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/1cfdf48028e223abf541c340cb934567\"},\"headline\":\"Christine Lagarde: Cryptocurrency Regulation Is Inevitable\",\"datePublished\":\"2018-02-12T02:30:44+00:00\",\"dateModified\":\"2021-08-21T19:11:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555\"},\"wordCount\":560,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/02\/regulation.png\",\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/104555\",\"name\":\"Christine Lagarde: Cryptocurrency Regulation Is Inevitable - 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