IMF calls for coordinated action over fears crypto could undermine global monetary system

The International Monetary Fund took a seemingly tough stance toward growing crypto adaptation with a set of recommendations for member countries and a call for a “coordinated response.”

“The widespread adoption of crypto assets could undermine the effectiveness of monetary policy, circumvent capital flow management measures, and exacerbate fiscal risks,” the organization said in a statement, referencing a discussion about crypto policies its executive board had earlier this month.

Read more: The Block