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IMF chief strikes friendlier tone toward cryptocurrencies

IMF's Christine Lagarde. Photo by Vincent Isore/IP3/Getty Images

International Monetary Fund managing director Christine Lagarde last month blogged about the "dark side" of cryptocurrencies. Now she's offering a more "even-handed" take:

"The fintech revolution will not eliminate the need for trusted intermediaries, such as brokers and bankers. There is hope, however, that decentralized applications spurred by crypto-assets will lead to a diversification of the financial landscape, a better balance between centralized and de-centralized service providers, and a financial ecosystem that is more efficient and potentially more robust in resisting threats."