The IMF’s chief economist opposes a ban on cryptocurrencies and wants the sector to be regulated.
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La economista en jefe del Fondo Monetario Internacional (FMI), Gita Gopinath, ha expresado his opposition to a general ban on cryptocurrencies , pero en cambio, quiere que el sector esté regulado.
In this regard, Gopinath has called for the immediate enactment of standard global policies to regulate digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets, reports Business Today.
In an event organized by theNational Council on Applied Economic Research (NCAER)), Gopinath said that cryptocurrencies are proving to be a challenge for emerging markets, and that strict regulation is the need of the hour. He called for an urgent global policy on the issue.
He stressed that developing economies should regulate cryptocurrencies rather than ban them.
Gopinath, however, added that there are practical disadvantages to banning digital currencies, given their decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. nature.
“Regulating cryptoassets and cryptocurrencies is essential, especially for emerging and developing economies, as banning them may not work as crypto exchanges are located overseas, making it easy for an individual to exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. them despite the ban”, dijo.
Union of countries
He stated that no single country could solve this problem on its own. considering the complicated cross-border transactions, and therefore believes in global politics.
He added: “Cryptocurrencies pose problems, as emerging developing economies often have exchange rate controls, capital capital is most commonly defined as the large sum of money you would use to invest. controls and capital flow measures …, cryptoassets can be used to evade those regulations.”
For her, cryptocurrencies require the revision of most laws, especially those related to offshore transactions.
Gopinath will take over as the IMF’s first deputy managing director on January 21, 2022.
It is worth remembering that Gopinath was the author of an IMF article, at the beginning of the pandemic, where she stated that the economic crisis would be the worst after the Great Depression of 1929. She titled the crisis with a very appropriate name: “The great confinement” The Commission has also been asked to consider the possibility of a new law, since this has been the measure taken in most of the countries.
IMF and its crypto policies
Gopinath’s remarks precede a set of guidelines released by the IMF this week on a proposed framework for making a global crypto regulatory standard.
Prior to that, the IMF has insisted on the need to set rules for the crypto market an area or arena, online or offline, in which commercial dealings are conducted. . For this purpose, theFMI has been meeting with the World Bank, the Bank for International Settlements and the Group of 20 to establish common official standards.
Likewise, theFMI has been one of the most important El Salvador’s most critical, after that country converted Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in legal tender.
Sources: Business Today , Finbold , archivo
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