The head of the International Monetary Fund (IMF), Christine Lagarde, spoke optimistically about the cryptocurrency, saying that they "do not pose an immediate danger," and their regulation is appropriate "in a balanced manner."
"Here, I want to examine the promise they offer. A judicious look at crypto-assets should lead us to neither crypto-condemnation nor crypto-euphoria," said Lagarde.
It's a very even-keeled message, at times sounding like a seasoned blockchain developer who is not sticking their head in the sand about the risks but also can't deny the role that cryptocurrencies will play in the future.
"Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto-assets that survive could have a significant impact on how we save, invest and pay our bills. That is why policymakers should keep an open mind and work toward an even-handed regulatory framework that minimizes risks while allowing the creative process to bear fruit," she said.
Lagarde believes that a blockchain can help financial markets operate more effectively by using self-executing and self-affirming "smart contracts" that will eliminate the need for intermediaries.
She added that using cryptocurrency would lead to a diversification of the financial landscape, which will improve the balance between centralized and decentralized service providers, and a financial ecosystem that will be more efficient and potentially more reliable.
Lagarde recalled investor risks, but in general, her message was positive.