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Digital technology, according to Lagarde, needs to be controlled
Financial technologies, such as digital and cryptocurrency, “shake” the banking system and should be monitored to maintain stability. This was stated by the head of the International Monetary Fund (IMF), Christine Lagarde.
As noted by CNBC, Lagarde stressed that cryptocurrencies have a clear impact on financial sector employees. This, according to the head of the IMF, is evidenced by the changing business models of commercial banks.
The IMF chief warned that such changes in the financial industry should be regulated.
“We don’t want innovations that would shake the system so much that we would lose the necessary stability,” Lagarde said.