Crypto Needs ‘Global Regulatory Framework,' IMF Says

The longer it takes international regulators to form a game plan for regulating crypto, the more likely it is that regulation will be locked in at a fragmented, national level, warned the IMF on Tuesday.

AccessTimeIconSep 20, 2022 at 10:41 p.m. UTC
Updated May 11, 2023 at 3:34 p.m. UTC

The International Monetary Fund (IMF) has called on financial regulators around the world to come together to develop a “global regulatory framework” for crypto assets.

In a blog post published on Tuesday, Aditya Narain and Marina Moretti – the deputy director and assistant director, respectively, of the IMF’s Monetary and Capital Markets department – wrote that a global framework would “bring order to the markets, help instill consumer confidence, lay out the limits of what is permissible, and provide a safe space for useful innovation to continue.”

Narain and Moretti argue that the absence of a coordinated, global response to the crypto boom has given way to fragmented, national-level regulation that leads to regulatory arbitrage as “crypto actors migrate to the friendliest jurisdictions with the least regulatory rigor – while remaining accessible to anyone with internet access.”

The IMF has stressed that a global response must be done sooner rather than later, to avoid national regulators from being “locked into differing regulatory frameworks.”


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Cheyenne Ligon

Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.

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