IMF’s Researches May Be Used For Crypto Market Regulations
Experiments held by International Monetary Fund (IMF) in the area of blockchain will be used as a base for formation of crypto industry regulation’s vector, reports Cointelegraph referring to IMF Deputy General Counsel Ross Leckow.
According to him, IMF is thoughtfully studying modern financial technologies and blockchain, however, working with it would lack something if there were no researches on artificial intelligence and cryptocurrencies. Ross Leckow highlighted that the banks and countries who cooperate with IMF take an interest in regulation of a developing sector.
He has also told that IMF is ready to provide recommendations regarding new technologies. Due to this, it has launched an initiative called Bali Fintech Agenda together with the World Bank. It is intended to form and study a range of main problems hindering fintech solution implementation.
To recap, IMF claimed in its October’s report called World Economic Outlook that cryptocurrencies could create “new vulnerabilities” in the world financial system.