International Monetary Fund (IMF) Chief Economist Discusses "Global Needs" for Cryptocurrency Regulation

Due to the success of Crypto over the past few years, many countries have taken steps to regulate digital commerce. for

Of course, its appearance is very different depending on the business environment of each person. However, the International Monetary Fund (IMF) has been a strong advocate for the adoption of international governance procedures. for

Gita Gopinath, Chief Financial Officer of the International Monetary Fund (IMF), recently drafted a global policy for the digital asset market. He believes that "international law is a global priority," believes that no country can solve the problems of today's digital economy on its own because crypto can be traded abroad.

The Economist, speaking at an event hosted by India's National Council for Applied Economic Research (NCAER), pointed out that Crypto makes it more competitive for emerging markets. for

“Cryptos seem more attractive to new markets than developed countries,” he said. And crypto will have an impact on that. "

However, Gopinas has acknowledged that the distribution of cryptocurrencies has created a real impact on crypto bans, and believes it needs to be watched. Gopinath added that the asset management policy should be similar to the regulatory requirements of other financial institutions. for

Gopinath believed that the Crypto classification was the reason for the adoption of international law. for

"The Crypto ban faces competition as many exchanges are foreign exchanges and are not regulated by any particular country, so we cannot guarantee that we will ultimately be able to restrict Crypto-free."

For example, Binance, the largest exchange in the middle, also operates worldwide without a central bank. This allowed the company to control the issue of currency restrictions in many countries or exchange notices to comply with regulations. for

Days before Gopinath's statement, the International Monetary Fund (IMF) issued a detailed statement calling for the international adoption of “polite, consistent and collaborative” cryptocurrency regulation. for

An important part of the framework is to set clear requirements for crypto providers, crypto brokers, and financial management firms that oversee products like commodities and accept crypto.