The past few years have seen crypto assets moved from being “niche products” to having more of a mainstream presence, prompting the need for more comprehensive regulation of the space, according to the International Monetary Fund (IMF).
In a new report authored by IMF capital markets director Aditya Narain and assistant director Marina Moretti, officials noted that crypto assets have firmly shifted away from being “niche products” to ones used for speculative investments, hedges against weak currencies, and payment instruments.
The authors added that this, along with recent failures of crypto issuers, exchanges, and hedge funds have “added impetus to the push to regulate.”
The failures of crypto issuers, exchanges and hedge funds have added impetus to the push to regulate these digital assets. Read more in F&D. https://t.co/Vfyr4uN6NY pic.twitter.com/4LF9P3DZpc
— IMF (@IMFNews) September 5, 2022
However, developing regulatory frameworks for crypto assets is an uphill battle,...
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