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International Monetary Fund calls on countries to cooperate

2018-05-25

The International Monetary Fund (IMF) has always been committed to promoting global monetary cooperation and financial stability. It is calling for countries to collaborate on cryptocurrencies and warned against the risk of rising cryptocurrency prices.


 
According to Bloomberg News, IMF spokesperson Gerry Rice said last week that there is a need for more in-depth international discussion and cooperation among national regulatory agencies.
 
Rice also pointed out:
"As asset prices rise rapidly, risks accumulate, especially when market participants borrow money to purchase assets. People need to be aware of this risk and take necessary risk management measures."
 
The spokesman also stressed that the risk of cryptocurrency is not only to cause losses for investors, but also includes the possible use of money laundering, terrorist financing activities, tax evasion and fraud.
 
Previously, the IMF advocated a balanced approach to cryptocurrency regulation. The president of the organization, Christine Lagarde, pointed out in September 2017 that cryptocurrencies may pose challenges to the traditional currency issued by the government. It is unwise to ignore them.
 
She also said that cryptocurrency can bring about "substantial subversion" and remind the central bank and financial services organizations to pay closer attention to the technology.
 
Just last week, the United States Treasury Secretary Steven Mnuchin announced that the US Financial Stability Oversight Committee (FSOC) has set up a working group that focuses on cryptocurrency and is relevant to US regulatory agencies. discuss.
 
Nuchin said at the time: "We want to ensure that bad people cannot use these currencies to do bad things."