The recognised Director of the IMF, Christine Lagarde has recently emerged as a candidate for the ECB presidency, and crypto enthusiasts are more than pleased with the news. The current director of the International Monetary Fund has endorsed the role of digital currencies several times in the past as well as suggesting further adoption from financial institutions worldwide.
One of the most famous affirmations from the IMF Director was made in a CNBC interview earlier during the year, in which she states that: “digital assets are shaking the system”. Lagarde merged its argumentation with the current status quo of the banking sector. The IMF director has outlined how the biggest financial institutions in the world are facing complicated challenges more than ever and technology should be the best tool to solve them.
In the same chat with CNBC in April, Christine added the following:
“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system”.
Those previous statements are a few out of a vast list of statements made by the French politician, which has been hugely welcomed by the cryptocurrency community. A crypto-supportive representative as the head of one of the most important bodies in the world could certainly be a key piece of the chessboard. Many analysts are already speculating about the upcoming crypto-friendly legislations Lagarde may propose.
The reality is that Mario Draghi’s successor may bring a totally different approach to the industry, helping with the expansion of many Fintech sectors inside the European territory. Unlike Mario Draghi, she does not consider cryptocurrencies to be “highly risky” but rather with a significant potential if they are regulated properly.
The 63-year-old Christine was Minister of Commerce between 2005 and 2007, Minister of Agriculture in 2007, Minister of Finance 2007-2011 and Managing Director of the IMF since 2011. Even though the knowledge Chairwoman is more a politician than an economist, her nomination comes with perfect timing.
If Christine does get selected to be the next ECB Director, then this could be a new stage for global adoption. Let’s not forget that banks such as J.P Morgan and Goldman Sachs are already working on their own chain of blocks, while Bakkt and Fidelity are bringing disruption by using the retail front.
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