IMF's Gita Gopinath on G20 Crypto Regulation

The IMF and FSB have joined forces for the first time to regulate crypto assets competitively.

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Gita Gopinath, IMF's Deputy Managing Director, discusses the IMF's role in shaping India's G20 strategy.

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Gopinath stresses the significance of this collaboration, particularly regarding regulations and macro-financial consequences.

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The article highlights the importance of not legalizing digital assets like Bitcoin as legal tender to protect monetary sovereignty.

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Guidelines suggest licensing and registering crypto asset issuers for financial stability, emphasizing consistent management of related activities and risks.

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The crypto community has adopted common principles, but work remains in developing regulations.

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Gopinath is concerned about varying national crypto asset policies and emphasizes the need for tailored regulations to suit specific situations.

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The article discusses the timeline for implementing these principles, aiming for a more stable crypto landscape with improved data and transparency.

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