The head of the European Central Bank may become loyal to cryptocurrency Christine Lagarde

At a summit in Brussels, reporters were informed that the leaders of the European Union are considering appointing the current managing director of the International Monetary Fund (IMF), Christine Lagarde, to the post of next president of the European Central Bank.

As the head of the IMF, Lagarde showed her positive attitude to cryptocurrency . Earlier in an interview with CNBC, she said that cryptocurrency is already "shaking the system." Considering the blockchain a significant achievement, it also supports the ability of central banks to launch their own digital coins.

According to recent reports, the candidacy of Lagarde is considered as a possible contender for the main chair of the ECB.

Lagard as possible president of ECB

Although Lagarde was in favor of “taming and controlling” this space, many analysts believe that her role for cryptocurrencies will be positive. Lagarde may also become the first president of the ECB, who is not an economist.

Lagarde also recently said that the global economy would soon need a “rough patch.” It seems that her approach will not rule out testing of alternative technologies to accelerate economic growth and save the euro. For this role, more likely, digital currencies will suit, about which Lagarde, back in 2017, said that they "require a serious attitude."

Previously, she also pointed out that the international regulatory framework for this industry is “inevitable”. Most likely, the ECB, led by Lagarde, will be friendly to cryptocurrencies, and we can witness some official efforts to regulate and legitimize cryptocurrencies.

International regulatory framework

Now large financial firms are beginning to invest heavily in this industry. The need for an international regulatory framework is becoming ever more relevant, especially in the light of Facebook’s “cryptocurrency” plans . Recently it became known that France will lead efforts to create a "task force on cryptocurrency" in the framework of the G7.

Although Christine Lagarde can hardly be called a “evangelist” cryptocurrency, her presidency in the ECB can create the right conditions for the digital currency space to flourish.

More recently, we also wrote that the attitude of the Bank for International Settlements (BIS) to digital currencies has changed significantly.

Publication date 03/07/2019
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