The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies. cryptocurrency
The board stressed the need to develop comprehensive crypto regulations to “better mitigate the risks posed by crypto assets while also harnessing the potential benefits of the technological innovation.”The International Monetary Fund announced on Thursday the outcome of a discussion held by its executive board directors on a paper titled “Elements of Effective Policies for Crypto Assets.”
The first element of the framework described by the IMF is to “safeguard monetary sovereignty and stability by strengthening monetary policy frameworks and do not grant crypto assets official currency or legal tender status.” Directors generally agreed that crypto assets should not be granted official currency or legal tender status in order to safeguard monetary sovereignty and stability.
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