The head of the International Monetary Fund (IMF) has called for greater regulation of cryptocurrencies, citing concerns over their impact on financial stability. Kristalina Georgieva, the IMF’s managing director, said in a speech at a conference in Seoul that high adoption of crypto assets could undermine macro-financial stability and affect the effectiveness of monetary policy transmission, capital flow management measures, and fiscal sustainability due to their volatile nature. Georgieva added that rules were needed to avoid the risks of crypto assets, but stressed that these should not stifle innovation. She also highlighted the need for policymakers to be part of the development of digital currencies, rather than being left behind.
Source: https://coinpedia.org/crypto-live-news/imf-calls-for-crypto-regulation-to-address-financial-stability-risks/