IMF Plans to Regulate the Cryptocurrency Sector, Not Ban It

IMF Managing Director Kristalina Georgieva stated that regulators would prefer to regulate cryptocurrencies rather than impose a direct ban on them.

"We advocate for the regulation of the world of digital currencies," she said, adding that this is one of the main priorities.

The International Monetary Fund would prefer to differentiate and regulate crypto assets rather than impose a direct ban. However, according to statements, the latter option remains on the table for now.

Georgieva also added, "Our first goal is to distinguish between central bank digital currencies, which are backed by the state, and publicly issued cryptocurrencies and stablecoins."

When asked what could lead to a decision to ban cryptocurrencies, she replied that the inability to protect consumers from the rapid development of the world of crypto assets would be the main catalyst.