International Monetary Fund (IMF), He has made harsh statements about the crypto money industry before, and it doesn’t seem like he’s going to give up easily.
Emphasizing that cryptocurrencies pose a great risk many times, the IMF made a similar statement and stated that they threaten the current financial system.
Stating that cryptocurrencies should have very comprehensive and sufficient regulations for this reason, IMF officials underlined that the regulations should be strict.
Strong Warning to Cryptocurrency Investors
In fact, the IMF recently shared detailed information about cryptocurrency regulations.
Acknowledging that cryptocurrencies have changed the entire global financial sector, this time in the shared blog post, IMF officials believe that the risks associated with them are ignored.
Stating that if cryptocurrencies are not regulated, this may result in undesirable results, IMF officials also emphasized in the relevant report:
Policy makers have difficulty monitoring the risks arising from this growing industry, and many activities here are already unregulated. In fact, we think these financial stability risks may soon become systemic problems in many countries.”
In this context, the IMF advocates serious regulation of all crypto money service providers, and the continuation of this, even the decentralized ones of cryptocurrencies.
Such a situation may be more devastating than anticipated for the cryptocurrency industry.