IMF calls for international cooperation in the regulation of cryptocurrencies

The international monetary Fund (IMF), whose goal is to foster global monetary cooperation and financial stability, has called for international cooperation to address issues of cryptocurrencies and also warned about the risks posed by rising prices.

According to Bloomberg, a spokesman of the IMF Jerry rice (Gerry Rice) said late last week that required «a broader international discussion and cooperation among regulatory agencies». Rice added:

«When asset prices are growing rapidly, the risks can accumulate, especially if market participants borrow money to buy. It is important that people knew the risks and took the necessary measures to control them.»

The IMF representative also stressed that cryptocurrencies are a danger not only from the point of view of losses for investors, but could potentially be used for money laundering, terrorist financing, tax evasion and fraud.

Earlier, the IMF advocated a balanced approach to the regulation of cryptocurrencies. Christine Lagarde (Christine Lagarde), the managing Director of the organization, said
in October 2017, that cryptocurrencies can create problems for traditional money, and that to ignore them «stupid.» She added that the cryptocurrency will lead to «massive problems» and warned that Central banks and financial services need to pay more attention to technology.

Last week, the US Treasury Secretary Steven Mnuchin (Steven Mnuchin) stated that the oversight Board the financial stability formed a working group to discuss the question of crypto-currencies with other US regulators. According to him, the group is «very focused» on the cryptocurrency.

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