Supporting the Indian government’s call for global cooperation to regulate cryptocurrencies, the IMF (IMF) chief said he would set up a team to work on the matter.
What happened: Managing Director Kristalina Georgieva said that the IMF’s thoughts on the regulation of cryptos align with India and agree that there is a need to weigh the pros and cons of cryptocurrencies, such as: Bitcoin BTC/USD, ether ETH/USDand Dogecoins DOGE/USD.
“The world is changing very quickly, especially in the digital realm. It’s like it’s been put on steroids by the pandemic, and in the world of money, crypto and stablecoin have become very strong. However, they are not regulated. India is right to ask the IMF for regulation so crypto doesn’t become like the wild, wild west,” she told CNBC-TV18 in one interview.
She also highlighted the introduction of regulations to take advantage of crypto’s “fast and cheap” payment modules while managing cybersecurity risks.
Also read: Bitcoin, Ethereum, Dogecoin surge higher over the weekend: what’s happening?
This comes after Georgieva, who is currently visiting India, met a number of dignitaries including the President Droupadi Murmuprime minister Narendra Modi, and Minister of Finance Nirmala Sitharaman. In a meeting with Sitharaman, she discussed the importance of regulating digital assets and the need for a globally coordinated, synchronized approach to the issue.
Price promotion: At the time of writing, Dogecoins traded, is up 0.6% over the past 24 hours. Bitcoin gained 2.9% and ether traded 0.7% over the same period Benzinga Pro data.
Photo: Courtesy of EU Civil Protection and Hu on flickr
