IMF-FSB recommends cooperation, info sharing for crypto asset regulation-report

A small toy figures and representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/Illustration
Reuters Images/REUTERS

A blanket ban that makes crypto activities illegal can be costly and demanding to enforce, the report added

Sarita Chaganti Singh and Shivangi Acharya, Reuters News

September 7, 2023

PHOTO
A small toy figures and representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/Illustration

NEW DELHI - The International Monetary Fund and Financial Stability Board has recommended cross border co-operation and information sharing for consistent regulation of crypto assets, the two said in a joint report to the Group of 20 nations released to the media on Thursday.

A blanket ban that makes crypto activities illegal can be costly and demanding to enforce, the report added.

(Reporting by Sarita Chaganti Singh and Shivangi Acharya; Writing by Swati Bhat)

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