World leaders are cryptocurrencies with caution — such a conclusion can be drawn from the comments of participants of the world economic forum (WEF) in Davos.
From Prime Minister to Secretary of the Treasury – many prominent figures spoke out against the cryptocurrencies, bitcoin and the blockchain in the event. As reported yesterday, the President of Goldman Sachs, Lloyd Blankfein (Lloyd Blankfein), was one of the major players on wall street who mentioned bitcoin in his speech. This may indicate that the cryptocurrency is becoming an important topic of discussion of the global elite.
Steven Mnuchin (Steven Mnuchin), the Minister of the Treasury, remarked during a debate that the illegal use of cryptocurrencies is a major concern for us regulators.
«My main approach to cryptocurrencies, whether it is a digital currency, bitcoin or other tools is to ensure the impossibility of their use for illegal transactions», — said Mnuchin.
A similar statement was made
and the head of the International monetary Fund Christine Lagarde (Christine Lagarde), who noted that the anonymity of bitcoin allows you to move the shadow vehicle.
«Anonymity, lack of transparency and how they hide and protect money laundering and the financing of terrorism, is unacceptable,» — said Lagarde.
Lagarde predicted that governments are likely to continue to regulate cryptocurrencies to prevent such instances of their use. Following this, the Prime Minister of great Britain Theresa may (Theresa May) stated that cryptocurrencies should be considered in the vein of how they are used, «especially criminals.»
One of the most important applications has been the President of France Emmanuel Makron (Emmanuel Macron), which is called
the international approach to the regulation of cryptocurrencies.
Assessment of the impact
Other forum participants in Davos are mostly focused on the economic impact of cryptocurrencies is talked about as financial regulators from Asia and Europe.
Deputy Chairman of the securities Committee of China Xinghai Fang (Fang Xinghai) said during a meeting of the Commission that it is unclear how bitcoin will impact on the economy. The Bank of Canada Governor Stephen Poloz (Stephen Poloz) echoed these comments, adding that the collapse of the cryptocurrency market is unlikely to greatly affect the economy. He also cautioned against investment in cryptocurrencies.
British Finance Minister Philip Hammond (Philip Hammond), in turn, said that the growth of bitcoin has a certain potential, which at some point can have a serious impact on the economic situation. He called for further regulation to manage «before capitalization of bitcoins will become large enough to influence world economy», predicting that it will happen any time soon.
Despite expressed concerns about the cryptocurrency world leaders and regulators in Davos, talked about the blockchain in a positive way. For example, Poloz called the technology «brilliant» and added that it expects its distribution in different sectors of the economy.
Lagarde said that the blockchain «entertaining technology», noting inter alia its resistance to censorship. She also suggested that from the blockchain and any other innovations and warned regulators about the need to monitor their appearance.