The post IMF Calls On Regulators To Work Toward A Global Regulatory Framework appeared first on Coinpedia Fintech News
The international monetary fund (IMF) has called on national authorities to consider collaborating and working towards a global regulatory framework to bridge the gap caused by fragmented regulations. As per IMF, the crypto market reached a global market capitalization of $3 trillion in November 2021 and it has become integrated into the mainstream financial system. Hence, there is an urgent need to regulate the market to prevent further possibilities of negative impacts on the global economy.
Countries have been taking their own different approaches to administer regulatory policies for crypto assets. IMF stated that the diverging regulatory approaches do not enable a level playing ground. Instead, a comprehensive framework will be comprising all aspects of the crypto market along with alignment with the mainstream regulatory system.