“The problem is that top crypto asset adoption may undermine macro-financial stability,” the IMF’s managing director, Kristalina Georgieva, mentioned at a convention in Seoul on digital currencies.
She mentioned that top crypto asset adoption may have an effect on the effectiveness of monetary policy transmission, capital circulation administration measures and financial sustainability due to risky tax assortment.
“Our aim is to make a extra environment friendly, interoperable and accessible monetary system by offering guidelines to keep away from the risks of crypto, and infrastructure by leveraging a few of its applied sciences,” Georgieva mentioned on the joint convention with the South Korean authorities and the central financial institution.
Guidelines aren’t meant to “return us to a pre-crypto world, nor to squash innovation,” she mentioned, including that “good guidelines can spur and information innovation.”