IMF: Cryptocurrencies Should Be Regulated, Not Banned

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. 

#Regulation news

Representatives of the U.S. House of Representatives introduced a new bill to clarify the authority of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in crypto market regulation.
Regulation of EU Crypto Market to Get Tougher
WEF Concerned About Crypto-Asset Regulation
Become a member of the CoinsPaid Media Community and start using crypto before it goes mainstream
Subscribe to the newsletter and training materials