IMF chief wants to regulate the ‘dark side of the crypto world’ with blockchain and AI

Christine Lagarde, the head of the International Monetary Fund (IMF), has said that the blockchain technology behind cryptocurrencies could also be used to regulate them. She suggests that the IMF “fight fire with fire” in trying to address the “dark side of the crypto world.” While acknowledging the potential for the technology behind crypto-assets as being massively empowering — particularly as a way to provide low-cost payment methods in poorer countries — she says that cryptocurrencies also need regulation to avoid problems such as money laundering and funding terrorism. See also: Cryptocurrency exchange Binance offers $ 250,000 bounty for hacker information… [Continue Reading]