IMF Head Called To Crackdown On Cryptocurrencies

Published: Wilson Clark

On: Mar 2018

The head of the International Monetary Fund says governments around the world can block this technology from getting involved in illegal monetary activities.

The anonymous currencies such as Bitcoin means they are used by criminals and terrorists, but it can be used against them, she added.

Though a few experts advise to use this to boost up the economy, its ungoverned nature is a big worry. What makes this new technology so attractive to investors is exactly what makes her dangerous two. Crypto currencies are two edged swords.

Distributed ledger technology (DLT) is the base of crypto-currencies  which, as UK government says is a asset database which can be shared across a multiple sites or geographies.

IMF head said that this technology can be used to deal in authorized money transaction activities.