fbpx
  • About Us
  • Contact
  • Sponsored Content
  • Price Tracker
  • Write for Us
  • Terms and Conditions
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Forecast
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Crypto.com Review
      • Swyftx Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase
No Result
View All Result
SUBSCRIBE
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Forecast
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Crypto.com Review
      • Swyftx Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » IMF Prefers More Crypto Regulations Over Explicit Bans

IMF Prefers More Crypto Regulations Over Explicit Bans

Van Tran by Van Tran
March 2, 2023
in Policy & Regulation
IMF Prefers More Crypto Regulations Over Explicit Bans
Share on FacebookShare on Twitter

The International Monetary Fund would prefer to differentiate and regulate crypto assets over explicit bans, but the nuclear option will remain on the table.

You might also like

Lawyers Flame SEC Chair Over Claims All Crypto Are Securities

FSB-IMF Synthesis Paper To Set Global Crypto Regulations After G20 Meetings

U.S. New Bill Could Block CBDC Development

Kristalina Georgieva, managing director of the International Monetary Fund, spoke on the sidelines of the G20 finance ministers’ meetings in Bengaluru, India, to clarify how the United Nations’ financial agency perceives digital assets and its regulatory preferences.

She stated, “We are very much in favour of regulating the world of digital money” as this is a top priority.

During an interview with Bloomberg on February 27, she responded to a query regarding her recent remarks regarding a possible total crypto ban. She stated that there is still considerable ambiguity regarding the classification of digital currency.

“Our first objective is to differentiate between central bank digital currencies that are backed by the state and publically issued crypto assets and stablecoins.”

Fully-backed stablecoins produce a reasonably decent space for the economy, whereas unbacked crypto assets are speculative, high-risk, and not money. She cited a recent paper recommending global regulation standards to argue that unbacked crypto assets cannot be legal tender.

“There has to be more regulation,” IMF Managing Director Kristalina Georgieva says https://t.co/TMq6eWWwwf

— Bloomberg Crypto (@crypto) February 25, 2023

She cautioned that banning cryptocurrencies should be considered if they become a more significant threat to financial stability. However, an outright ban would be preferable to effective regulations, predictability, and consumer protection.

She responded that the inability to safeguard consumers from the swiftly evolving world of crypto assets would be the primary catalyst for the decision to ban crypto.

In the second half of the year, the IMF, the Financial Stability Board, and the Bank for International Settlements will disseminate regulatory framework guidelines.

Tags: IMF
Van Tran

Van Tran

Recommended For You

Lawyers Flame SEC Chair Over Claims All Crypto Are Securities

by Van Tran
March 1, 2023
0
Lawyers Flame SEC Chair Over Claims All Crypto Are Securities

Gary Gensler’s recent interview with New York Magazine (NYMAG) has stirred the crypto industry again. Except for Bitcoin spot trading, the SEC chairman reiterated that he deems all...

Read more

FSB-IMF Synthesis Paper To Set Global Crypto Regulations After G20 Meetings

by Van Tran
February 28, 2023
0
FSB-IMF Synthesis Paper To Set Global Crypto Regulations After G20 Meetings

According to India's G20 Presidency announcement, a new document by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) will be the foundation for global crypto...

Read more

U.S. New Bill Could Block CBDC Development

by Van Tran
February 23, 2023
0
U.S. New Bill Could Block CBDC Development

U.S. Congressman Tom Emmer has introduced a bill to prevent the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). The ‘CBDC Anti-Surveillance State Act’...

Read more

Hong Kong SFC Outlines A Licensing Regime For Crypto Assets

by Van Tran
February 22, 2023
0
Hong Kong SFC Outlines A Licensing Regime For Crypto Assets

Hong Kong’s Securities and Futures Commission (SFC) seeks public feedback on the proposed cryptocurrency exchange licensing regime expected to take effect in June this year. The key issue...

Read more

Zambia Testing Technology To Regulate Crypto Sector

by Van Tran
February 20, 2023
0
Zambia Testing Technology To Regulate Crypto Sector

According to the Technology and Science minister Felix Mutati, the Bank of Zambia and the country’s securities regulator are “testing technology” to allow the regulation of cryptocurrencies. The...

Read more

Most popular

  • Best Crypto Youtube Channels For Crypto Enthusiasts 2023

    Best Crypto Youtube Channels For Crypto Enthusiasts 2023

    653 shares
    Share 261 Tweet 163
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2022

    139 shares
    Share 56 Tweet 35
  • Bybit Australia Review 2023: Fees, Security & More Features

    77 shares
    Share 31 Tweet 19
  • Top ZK Rollup Projects Early 2023: A Curated List

    77 shares
    Share 31 Tweet 19
  • CoinSpot Review 2023: Details, Fees & Features

    128 shares
    Share 51 Tweet 32

Recommended

IMF Prefers More Crypto Regulations Over Explicit Bans

IMF Prefers More Crypto Regulations Over Explicit Bans

March 2, 2023
Coinbase to Suspend Binance USD Trading For Not Meeting Listing Standards

Coinbase to Suspend Binance USD Trading For Not Meeting Listing Standards

March 2, 2023
Kucoin Review 2023: Features, Fees & More

Kucoin Review 2023: Features, Fees & More

March 1, 2023
Lawyers Flame SEC Chair Over Claims All Crypto Are Securities

Lawyers Flame SEC Chair Over Claims All Crypto Are Securities

March 1, 2023
Facebook Twitter Instagram
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Adoption Altcoin News Banks Bitcoin Bitcoin News Blockchain News btc Business Cardano Cardano News CBDC China CoinSpot Crypto Cryptocurrencies Crypto Exchange DeFi Dogecoin News El Salvador ETF Ethereum News Exchanges Feature FTX Games hacks Markets Metaverse Mining NFT NFT Game Opinion People Policy and Regulation SAM SEC Security Solana Stablecoins Tech Terra Top Crypto News Australia | CoinCulture Trading U.S. web3

© 2022 CoinCulture. All rights reserved.

No Result
View All Result
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Forecast
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Crypto.com Review
      • Swyftx Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase

© 2022 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$23,504.000.240%
    BITCOIN
    24H : 0.240%
    Volume : $31,841,504,199.00
    Marketcap : $453,758,656,664.00
  • ethereumEthereum(ETH)$1,648.810.690%
    ETHEREUM
    24H : 0.690%
    Volume : $8,298,912,073.00
    Marketcap : $198,583,595,136.00
  • tetherTether(USDT)$1.0000.0100%
    TETHER
    24H : 0.0100%
    Volume : $38,928,481,233.00
    Marketcap : $71,088,375,724.00
  • binancecoinBNB(BNB)$299.51-1.50%
    BNB
    24H : -1.50%
    Volume : $49,570,499.00
    Marketcap : $47,352,691,852.00
  • usd-coinUSD Coin(USDC)$1.0000.050%
    USD COIN
    24H : 0.050%
    Volume : $3,427,176,452.00
    Marketcap : $42,659,753,704.00

Add New Playlist