{"id":66742,"date":"2022-09-06T13:05:13","date_gmt":"2022-09-06T10:05:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66742"},"modified":"2025-09-07T02:55:12","modified_gmt":"2025-09-06T23:55:12","slug":"imf-urges-regulators-to-catch-up-on-digital-asset-regulation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/imf-urges-regulators-to-catch-up-on-digital-asset-regulation\/","title":{"rendered":"IMF urges regulators to catch up on digital-asset regulation"},"content":{"rendered":"<p>Bankruptcies among issuers, exchanges and hedge funds have provided added impetus to the push for a comprehensive regime governing digital assets. The <span data-descr=\"IMF\" class=\"old_tooltip\">IMF<\/span> said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The failures of crypto issuers, exchanges and hedge funds have added impetus to the push to regulate these digital assets. Read more in F&#038;D. <a href=\"https:\/\/t.co\/Vfyr4uN6NY\">https:\/\/t.co\/Vfyr4uN6NY<\/a> <a href=\"https:\/\/t.co\/4LF9P3DZpc\">pic.twitter.com\/4LF9P3DZpc<\/a><\/p>\n<p>\u2014 IMF (@IMFNews) <a href=\"https:\/\/twitter.com\/IMFNews\/status\/1566821465810685952?ref_src=twsrc%5Etfw\">September 5, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts at the IMF say that cryptocurrencies have moved from niche products to mass-market use. They are used for speculation, hedging against currency depreciation, and as payment instruments.<\/p>\n<p>The authors of the papers acknowledged the difficulties in crafting a regulatory framework for the new asset class due to rapid evolution of markets, monitoring challenges and a lack of practical expertise among supervisory authorities.<\/p>\n<p>Experts pointed to an inconsistent approach to regulating digital assets, calling for a coordinated and comprehensive global framework.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cSome agencies may prioritise consumer protection, others \u2014 safety and soundness or financial integrity. There is a whole range of participants in the industry \u2014 miners, validators, protocol developers \u2014 that are not easily covered by traditional financial regulation.\u201d<\/em>, IMF said.<\/p>\n<\/blockquote>\n<p>Experts say that a global regulatory framework would bring order to the markets, help build consumer trust, set boundaries for what is permissible, and provide a safe space for continued innovation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>As noted earlier, in July the Council of the European Union and the European Parliament provisionally <a href=\"https:\/\/u1f987.com\/en\/news\/europe-reaches-agreement-on-sweeping-crypto-regulation\">agreed on the provisions of the Markets in Crypto Assets regulation<\/a> <span data-descr=\"Markets in Crypto Assets\" class=\"old_tooltip\">MiCA<\/span>. It describes rules applying to issuers of unbacked crypto assets, stablecoins, trading and custody platforms.<\/p>\n<\/blockquote>\n<p>Subsequently, members of the European Greens and Socialists <a href=\"https:\/\/u1f987.com\/en\/news\/eu-proposes-extending-aml-standards-to-nft-platforms\">proposed<\/a> extending <span data-descr=\"Anti-money laundering and combating the financing of terrorism (AML\/CFT)\" class=\"old_tooltip\">AML\/CFT<\/span> procedures to decentralized organizations, DeFi platforms and NFT platforms.<\/p>\n<p>Earlier, U.S. Senators Cynthia Lummis and Kirsten Gillibrand introduced<a href=\"https:\/\/u1f987.com\/en\/news\/us-senate-unveils-bipartisan-bill-to-regulate-crypto-industry\"> legislation to regulate the industry<\/a>.<\/p>\n<p> Read ForkLog\u2019s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bankruptcies among issuers, exchanges and hedge funds have provided added impetus to the push for a comprehensive regime governing digital assets, the IMF said.<\/p>\n","protected":false},"author":1,"featured_media":66743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,204,36],"class_list":["post-66742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-imf","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66742"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66742\/revisions"}],"predecessor-version":[{"id":66744,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66742\/revisions\/66744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66743"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}