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Discussing crypto regulation on the Foreign Policy Live podcast last week, IMF Managing Director Kristalina Georgieva hinted at what governments’ reaction should be in response to the rising challenges facing the global economy, including cryptocurrency.
Explaining that the IMF separates digital assets into three types: “crypto assets like bitcoin,” stablecoins, and central bank digital currencies (CBDCs)”, Georvieva said:
“Time has passed to have regulatory frameworks that are as much as possible harmonized around the world.
And I do hope that what we now see that there may be more attention to this topic translate into appropriate policy action.”
The IMF Director also said that stablecoins “backed by assets,” with the proper regulation can play a “very positive role” in shaping the new economy.
With the world’s nations gearing up to introduce their own central bank digital currencies (CBDCs), Georgieva sees a key role for the IMF “to build tunnels that connect these different CBDCs to make that fragmentation less damaging for the world economy or even minimize it.”