U.S. markets closed
  • S&P Futures

    3,724.50
    -7.50 (-0.20%)
     
  • Dow Futures

    29,691.00
    -59.00 (-0.20%)
     
  • Nasdaq Futures

    11,518.00
    -37.75 (-0.33%)
     
  • Russell 2000 Futures

    1,718.00
    -2.80 (-0.16%)
     
  • Crude Oil

    81.84
    -0.31 (-0.38%)
     
  • Gold

    1,662.70
    -7.30 (-0.44%)
     
  • Silver

    18.74
    -0.14 (-0.77%)
     
  • EUR/USD

    0.9682
    -0.0057 (-0.58%)
     
  • 10-Yr Bond

    3.7050
    -0.2590 (-6.53%)
     
  • Vix

    30.18
    -2.42 (-7.42%)
     
  • GBP/USD

    1.0791
    -0.0094 (-0.86%)
     
  • USD/JPY

    144.3390
    +0.2170 (+0.15%)
     
  • BTC-USD

    19,446.49
    +792.18 (+4.25%)
     
  • CMC Crypto 200

    444.63
    +15.85 (+3.70%)
     
  • FTSE 100

    7,005.39
    +20.80 (+0.30%)
     
  • Nikkei 225

    26,238.32
    +64.34 (+0.25%)
     

Crypto Needs ‘Global Regulatory Framework,' IMF Says

·1 min read

The International Monetary Fund (IMF) has called on financial regulators around the world to come together to develop a “global regulatory framework” for crypto assets.

In a blog post published on Tuesday, Aditya Narain and Marina Moretti – the deputy director and assistant director, respectively, of the IMF’s Monetary and Capital Markets department – wrote that a global framework would “bring order to the markets, help instill consumer confidence, lay out the limits of what is permissible, and provide a safe space for useful innovation to continue.”

Narain and Moretti argue that the absence of a coordinated, global response to the crypto boom has given way to fragmented, national-level regulation that leads to regulatory arbitrage as “crypto actors migrate to the friendliest jurisdictions with the least regulatory rigor – while remaining accessible to anyone with internet access.”

The IMF has stressed that a global response must be done sooner rather than later, to avoid national regulators from being “locked into differing regulatory frameworks.”