“We are very much in favor of regulating the world of digital money,” but a ban on crypto 'should not be taken off the table,' says IMF Managing Director Kristalina Georgieva.
The International Monetary Fund would prefer to differentiate and regulate crypto assets rather than enforce an outright ban, though the nuclear option will remain on the table for now.in Bengaluru, India, IMF Managing Director Kristalina Georgieva explained how the United Nations financial agency views digital assets and what it would like to see in terms of regulation.
“We are very much in favor of regulating the world of digital money,” and this is a top priority, she stated.with Bloomberg published on Feb. 27, she responded to a question on her recent comments about a potential complete ban on cryptocurrencies. She said there was still much confusion around the classification of digital money.
“Our first objective is to differentiate between central bank digital currencies that are backed by the state and publically issued crypto assets and stablecoins.” Fully-backed stablecoins create a “reasonably good space for the economy,” however non-backed crypto assets are speculative, high risk, and not money, she added.
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