Christine Lagarde, Managing Director of the International Monetary Fund (IMF), believes it’s time for central banks and regulators to get serious about cryptocurrencies.

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“I think that we are about to see massive disruptions,” Lagarde told CNBC, during the IMF Annual Meetings in Washington D.C.

Lagarde challenged JPMorgan Chase CEO Jamie Dimon’s heavy criticisms of bitcoin as a “fraud” last month, and advised against the cryptocurrency sphere as speculative or fraudulent.

“I think we should just be aware of not categorizing anything that has to do with digital currencies in those speculation, ponzi-like schemes,” Lagarde said.

“It’s a lot more than that as well.”

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