IMF head Christine Lagarde’s positive comments on cryptocurrency appear to have inspired a U-turn in traditional finance circles.
Lagarde’s suggestion that digital currencies could give fiat-based setups “a run for their money” provided a powerful alternative perspective to bankers’ “fraud” accusations.
Lingham banker buddy’s optimism
Now, well-known crypto industry figures such as Vinny Lingham are producing evidence that optimism from legacy money is still flowing.
Reproducing an exchange with a “banker/finance friend” Monday, Lingham noted the ease with which he had changed his mind on ICOs.
“[...] Now it just seems like easy money,” he added.
IMF new role
For her part, Lagarde’s ‘Brave New World’ speech at the Bank of England Conference late September contained more clues to a future international regulatory stance on cryptocurrency.
“To make things smoother—at least a bit—we need dialogue,” she said about cross-border regulatory efforts on fintech, including digital currency and decentralized technology.
“Between experienced regulators and those regulators that are just beginning to tackle fintech. Between policymakers, investors, and financial services firms. And between countries.”
The idea that the IMF could play a vital role in achieving a level playing field for disruptive technology and countering FUD from banking moguls such as JPMorgan’s Jamie Dimon and John Normand, provides much-needed support for the industry.