IMF: Crypto needs a global Regulatory Framework…

The International Monetary Fund i.e. IMF has called on financial regulators across the world to unite for developing a “global regulatory framework” for crypto assets.

International Monetary Fund Headquarters

Aditya Narain, the deputy director, and Marina Moretti, the assistant director, of the IMF’s Monetary and Capital Markets department, reported that a global framework would bring order to the markets, help instill consumer faith, lay out the limits of what is permissible, and provide a secure space for useful innovation to continue.

Must read: The U.S. economy will experience high Inflation for at least 2 more years

Narain and Moretti reason that the absence of a collective, global response to the crypto boom has given a pathway to fragmented, national-level regulation that leads to regulatory arbitrage as crypto actors migrate to the friendliest jurisdictions with the least regulatory rigor while remaining attainable to anyone with internet access.

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

Considering the exploits and market crisis encircling digital currencies, it is worth exploring or establishing a global entity that oversees the digital assets market.

Hungry for more information?

NFT Calendar from NFTHi

Check out the Latest NFT News!

For more interesting updates on NFTs, connect with NFTHI on Twitter and Instagram.

Join us on Telegram!

NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.

Conduct thorough research before you start with NFTs

Share This Post

Related Posts

Solana Blockchain Network Outage Lasted For 7 Hours

It took seven hours for the Solana blockchain to...

The new US Senate Bill will give CFTC more power over Crypto Market

A push in Washington to change the US derivatives...

Women Rise NFT Founder Joins Instagram’s Alpha Cohort

Just yesterday, we covered the news that Instagram is launching...

Fear City: Former GTA Artist Brings His NFT Project

While Rockstar carries its heels on GTA 6, Stephen...

Google marks “Ethereum Merge” with an Easter Egg

As a sign of support for the upcoming Ethereum...

Elon Musk and Jack Dorsey think Twitter should be a Protocol like Signal

In a surprising disclosure of private chats between Jack...