IMF advices close monitoring of crypto as they pose threat to financial systems

  • Amid the euphoria over cryptocurrencies, the International Monetary Fund has said that crypto assets present risks to different aspects of the financial system, and also called for closely monitoring the financial stability risks posed by them.
  • Responding to a question about media reports that the Indian government may bar the use of crypto assets for transactions, but regulate them for holding them, IMF spokesman Gerry Rice said the global body believes that crypto-assets present risks to different aspects of the financial system, including its operational stability, financial integrity, investor protection, and environmental aspects.
  • Opinions are divided about regulating crypto assets in India.
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