NEW DELHI: Crypto boom poses new challenges to financial stability and consumer protection risks remain substantial given limited or inadequate disclosure and oversight, according to the International Monetary Fund.
Crypto exchanges have faced significant disruptions during periods of market turbulence.
IMF also said that widespread and rapid adoption can pose significant challenges by reinforcing dollarization forces in the economy-or in this case cryptoization-where residents start using crypto assets instead of the local currency.
[Via]
