IMF officials say crypto assets have gained more mainstream presence as 'hedges against weak currencies and potential payment instruments.' cryptocurrency
IMF: Crypto Assets Become More Mainstream as Hedges Against Weak Currencies, Potential Payment Instruments
“Crypto assets have been around for more than a decade, but it’s only now that efforts to regulate them have moved to the top of the policy agenda,” the report describes, elaborating: “The failures of crypto issuers, exchanges, and hedge funds — as well as a recent slide in crypto valuations — have added impetus to the push to regulate,” the authors noted.
“For a start, the crypto world is evolving rapidly. Regulators are struggling to acquire the talent and learn the skills to keep pace given stretched resources and many other priorities. Monitoring crypto markets is difficult because data are patchy, and regulators find it tricky to keep tabs on thousands of actors who may not be subject to typical disclosure or reporting requirements,” they explained.
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