IMF: Crypto Needs Global Regulatory Framework

The International Monetary Fund (IMF) has urged financial regulators around the world to work together to develop a “global regulatory framework” for crypto assets.

In a blog post on Tuesday, Aditya Narain and Marina Moretti, the IMF’s deputy directors for money and capital markets, wrote that the global framework “will help regulate markets and boost consumer confidence, respectively.” It sets acceptable limits and provides a safe space for continued beneficial innovation.”

According to Narain and Moretti, the lack of a coordinated global response to the crypto boom has led to regulatory fragmentation at the national level, leading to “regulatory arbitrage as crypto actors move to the friendliest jurisdictions with the least regulated access “. anyone with internet.”

The IMF has stressed that a global response must be done sooner rather than later, to avoid national regulators from being “locked into differing regulatory frameworks.”

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