Kristalina Georgieva is a Bulgarian economist who currently serves as the managing director of the International Monetary Fund (IMF). As European Union Commissioner for Budget and Human Resources, she was responsible for overseeing the EU’s financial stability and regulation. This makes her an important figure in understanding cryptocurrency regulation on a global scale.
In October 2020, Kristalina Georgieva became one of four members of the Financial Stability Board (FSB), which advises G20 governments on international finance. In this capacity, she has expressed support for more stringent measures to regulate cryptocurrencies such as Bitcoin and Ethereum across jurisdictions. She has stated that while they are not yet “systemic” risks to global markets, their potential use in money laundering and other illicit activities could prove harmful if left unchecked by regulators.
At present, most countries have implemented some form of cryptocurrency regulation but often these regulations vary widely from jurisdiction to jurisdiction with no unified standard between them. For example, China has banned all ICOs while South Korea only recently allowed its citizens to trade cryptocurrencies legally after implementing anti-money laundering legislation in 2017.
As a member of FSB, Georgieva is likely to continue advocating for stronger worldwide standards when it comes to regulating digital currencies like Bitcoin or Ethereum so that investors can be sure their assets are secure from malicious actors or criminal activity. It remains unclear what specific actions may come out of her involvement but given her influence in both Europe and at the IMF it is likely that any changes she proposes will carry considerable weight within international regulatory bodies moving forward.
