[2018-10-04] Head of IMF: Cryptocurrencies Poses Challenges to Financial System

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    📌 Cryptocurrencies Poses Challenges to Financial System

    Christine Lagarde ranked cryptocurrencies as one of the risky areas that could play a role in the future financial crisis. Head also notes that digital assets will significantly change people's lives.

    “Despite [crypto's] potential benefits, our knowledge of its potential risks and how they might play out is still developing. Increased cybersecurity risks pose challenges for financial institutions, financial infrastructure, and supervisors.”

    Financial technologies and cybercrime were designated as risky areas, however, “potential benefits” are also mentioned. Earlier, Lagarde expressed an opinion that "the crypto-assets that survive could have a significant impact on how we save, invest and pay our bills".

    Other news:

    • SBI Ripple Asia's MoneyTap App Has Been Launched;
    • Bitfinex Announced Maintenance, Causing "Prices Uncertainty";
    • Abra Launches New Token Based on the Top-10 Crypto Portfolio;
    • Bithumb Plans to Release DEX Before the End of October.

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