IMF Releases A Recommendation For Crypto Regulation

International Monetary Fund IMFdiscussed all over the world cryptocurrency He shared his own advice on regulations in a blog post.

The post, written by two IMF officials, first referred to Bitcoin’s bear market statistics. Citing a report published last month by the Bank for International Settlements BIS, officials said. of bitcoin He reminded that since the end of 2021, it has lost 66% of its value and 75% of the investors are at a loss in this process.

The IMF listed its recommendations for crypto regulation in order for the crypto market to function more healthily and securely so that investors do not suffer:

Regulatory Recommendations from the IMF

The International Monetary Fund initially focused on service providers operating in the sector. According to the organization, crypto companies must be registered, approved and under balance sheet control like a normal company in the countries they serve.

Secondly, it should be investigated whether companies operating in crypto services in more than one different field will cause a conflict of interest. Legislators should particularly focus on multiple chains (such as FTX-Alamenda).

The organization referred to stablecoins as the third recommendation. Officials believe that stablecoins are now beginning to be used as a store of value not only by crypto investors but also by the public. Because stablecoin Especially the assets of the issuers should be under strict control.

Finally, the IMF mentioned that all countries should work together for a clear success in crypto regulation.