The IMF: A Coordinated Response to Approach Crypto Regulation is Needed

According to the International Monetary Fund (IMF), the growing adoption of digital assets requires the harmonization of the efforts of the supervisory authorities of various countries regarding their regulation.

The experts of the organization have noted that the potential benefits of the new asset class have not yet materialized, but potential side problems have already emerged.

The document reads:

“The widespread adoption of cryptocurrencies could undermine the effectiveness of monetary policy, circumvent capital flow management measures, and exacerbate financial risks.”

The IMF has also mentioned the impact of digital assets on financial stability, financial integrity, legal risks, consumer protection and market integrity.