The IMF admitted that the crypto ecosystem faces numerous challenges apart from valuation which is usually cited by critics.
To formulate regulations that provide a level playing field along with the activity and risk spectrum, IMF recommended three key elements to the global financial regulators.
The crypto market is currently valued at over $2 trillion and has been predicted to double its market cap in the near future. The increasing use of digital assets has led to the rising discussion of regulating the market. According to the International Monetary Fund (IMF), any formulated crypto regulation must be comprehensive, consistent, and coordinated.
In a blogpost, the IMF admitted that the crypto ecosystem faces numerous challenges apart from valuation which is usually cited by critics. According to the post, monitoring, identification, as well as management of risks defy regulation and firms.
These include, for example, operational and financial integrity risks from crypto-
