Skip to main content

IMF looking into crypto currencies; US says won’t allow illicit trade

IMF’s Christine Lagarde said any dark trade that involves money laundering or anonymity is unacceptable.
IMF chief Christine Lagarde on Thursday said the multilateral financial institution is looking into issues relating to crypto currencies to understand potential risks and benefits, even as the US made it clear it will not allow any illicit trade through this route. Speaking here at a session on remaking of global finance at the World Economic Forum (WEF), US Treasury Secretary Steven Mnuchin said, “We will make sure crypto currencies are not used for illicit activities.”
Asked whether IMF would heed the G20’s call to look into crypto currencies, as suggested by French President Emmanuel Macron here yesterday, Lagarde said in the same session that the body is accountable to 189 countries and not just 20 though it works closely with the G20 nations. “We have already started analysing the issues concerning crypto currencies including risks and potential benefits,” she said.
Lagarde further said any dark trade that involves money laundering or anonymity is unacceptable. She, however, added that she is hopeful of something good coming out of the entire exercise as innovative technologies always help if implemented and used properly and positively.
“Innovations are certainly going to help a lot on inclusion as we have seen world over,” she said.



Comments

Post a Comment

Popular posts from this blog

Ukraine crisis: Exchange of hundreds of prisoners takes place

Ukrainian President Petro Poroshenko attends a ceremony to welcome prisoners of war (POWs), released after the exchange with pro-Russian separatists, upon their arrival at an airport in Kharkiv, Ukraine December 27, 2017. (Source: Reuters)  Ukraine and separatist rebels in the east of the country have exchanged hundreds of prisoners, in one of the biggest swaps since the conflict began in 2014. Around 230 people were sent to rebel-held areas in return for 74 prisoners who had been held by pro-Russia rebels in the Donetsk and Luhansk regions, BBC reported on Wednesday. It was the first swap in 15 months. The release and exchange of prisoners was one of the points in the Minsk peace agreement, signed in 2015. The deal has stalled since and analysts say the swap does not signify wider progress. Both sides continue to hold other prisoners. The number of prisoners swapped was lower than initially announced after dozens of people who were meant to be returned to rebel-held terr...
Post a Comment
Read more

As many as 12 killed in New York’s deadliest fire in decades

More than 160 firefighters helped bring the blaze under control. (Source: Fire Department New York/Twitter) A massive fire ignited accidentally by a three-year-old boy swept through a five-story apartment building in New York, killing at least 12 people including a toddler and injuring four others in the deadliest blaze to hit the city in decades. The fire broke out around 6:50 pm (local time) yesterday on the first floor of the Prospect Avenue apartment in the Bronx borough of the city and spread quickly, officials said, adding that the cause of the blaze is under investigation. “We found that this fire started in a kitchen on the first floor,” fire commissioner Daniel Nigro said. “It started from a young boy, three and a half years old, playing with the burners on the stove. The fire got started, the mother was not aware of it – she was alerted by the young man screaming.” The boy’s mother fled with her two children, leaving the door to the apartment open – allowing t...
Post a Comment
Read more

Over 1 lakh illegal immigrants arrested in US in 2017

On January 25, Trump issued an executive order to set forth the Administration’s immigration enforcement and removal priorities. (Representational Image) The US authorities have arrested 143,470 illegal immigrants this year, according to a latest report. US Immigration and Customs Enforcement said in its annual report that it has made 143,470 administrative arrests in fiscal year 2017, increasing 30 per cent Year-on-Year, Xinhua news agency reported on Wednesday. An administrative arrest is the arrest of an alien for a civil violation of the immigration laws, which is subsequently adjudicated by an immigration judge or through other administrative processes. Of the total arrests, 110,568 occurred after January 20, which is a 42 per cent increase over the same time period last year, according to the report. US President Donald Trump took the oath of office on January 20 this year. On January 25, Trump issued an executive order to set forth the Administration’s immigrat...
Post a Comment
Read more