IMF Managing Director Supports Option of Banning Crypto
International Monetary Fund (IMF) Managing Director Kristalina Georgieva noted that banning crypto should be an option if regulation fails. She also emphasized the need to differentiate central bank digital currencies from stablecoins and cryptocurrencies issued by private companies.
G20 Addresses Financial Stability and Regulatory Priorities
At the first G20 meeting under India's presidency, the finance ministers and central bank governors addressed key financial stability and regulatory priorities. India's Finance Minister, Nirmala Sitharaman, called for a coordinated global policy for crypto assets. The IMF released an action plan on crypto assets, urging countries to abolish legal tender status for cryptocurrencies.
IMF Suggests Salvador Reconsider Bitcoin Exposure
The IMF recently suggested that El Salvador reconsider its plans to increase exposure to Bitcoin, citing risks to fiscal sustainability, consumer protection, and financial stability. The IMF published nine policy principles for effective crypto asset policies.