The director of the International Monetary Fund (IMF), Christine Lagarde, has said that regulators should use blockchain technology to stop the "danger of the promise" of cryptocurrencies. 

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"The same innovations that enhance cryptoactives can also help us regulate them. To put it another way, we can fight fire with fire, "Lagarde wrote in a post on the IMF blog on Tuesday.

Lagarde warned that cryptocurrencies could create financial instability, as well as facilitate terrorism and money laundering, arguing that distributed accounting technology and cryptography could be used in coordinated international regulatory efforts.

Distributed accounting technology, he said, "can be used to accelerate the exchange of information between market participants and regulators."

Lagarde published:

"Those who share an interest in maintaining secure online transactions should be able to communicate without problems. The technology that allows instant global transactions could be used to create standard and verified customer information records along with digital signatures. Governments can also help to free up resources for priority needs and reduce tax evasion, including evasion related to cross-border transactions. "

In the post, Lagarde also said that cryptography, in addition to artificial intelligence and biometrics, could be used to "eliminate the pollution of the cryptoactive ecosystem."

According to Lagarde, these technologies "can improve digital security and identify suspicious transactions almost in real time. This would give police forces an advantage by acting quickly to stop illegal transactions. "

The IMF general director went on to suggest that regulators should look to the frameworks of the Financial Action Task Force (FATF) and the Financial Stability Board to inform their own rules.

The views expressed in the blog post are largely aligned with Lagarde's previous comments on cryptocurrencies, although the literally fiery rhetoric could indicate that the IMF is seriously considering intervening in the crypto industry sooner rather than later .