IMF's Gita Gopinath on G20 Crypto Regulation
The IMF and FSB have joined forces for the first time to regulate crypto assets competitively.
Gita Gopinath, IMF's Deputy Managing Director, discusses the IMF's role in shaping India's G20 strategy.
Gopinath stresses the significance of this collaboration, particularly regarding regulations and macro-financial consequences.
The article highlights the importance of not legalizing digital assets like Bitcoin as legal tender to protect monetary sovereignty.
Guidelines suggest licensing and registering crypto asset issuers for financial stability, emphasizing consistent management of related activities and risks.
The crypto community has adopted common principles, but work remains in developing regulations.
Gopinath is concerned about varying national crypto asset policies and emphasizes the need for tailored regulations to suit specific situations.
The article discusses the timeline for implementing these principles, aiming for a more stable crypto landscape with improved data and transparency.