IMF chief economist Gita Gopinath said that states should develop legislation to control crypto.

IMF: Cryptocurrencies Should Be Regulated, Not Banned

States should develop mechanisms to regulate digital assets to prevent loss of control over the cryptocurrency market. This opinion was expressed by Gita Gopinath, IMF chief economist, during her speech at the National Council of Applied Economic Research (NCEAR) conference.

She also noted that cryptocurrencies could not be banned, given their decentralized nature. As a result, many large crypto companies are registered in offshore jurisdictions and are not subject to the legal regulations of specific states. 

In January 2022, Gita Gopinath will take over the position of the first Deputy Managing Director of the IMF, becoming the first woman in this position. 

Author: Mark Wallerstein
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