According to the IMF, the bankruptcies of issuers, exchanges and hedge funds have provided additional incentives for the desire to create a comprehensive regulation of digital assets.
The organization’s specialists believe cryptocurrencies have moved from the category of “niche products” to “mass” ones. The latter are used for speculation, hedging against the weakening of currencies, and also as payment instruments.
The experts have acknowledged the difficulties in developing a regulatory framework for a new asset class due to the rapid evolution of markets, the complexity of monitoring, and the lack of practical skills of supervisors.
According to them, there is an inconsistent approach to regulating digital assets, and have advocated the creation of a coordinated and comprehensive global system.