IMF calls for additional measures to regulate cryptocurrencies
Analysts have expressed concern about the growing correlation between digital assets and stock markets
23.08.2022 - 09:00
484
2 min
0
What’s new? The International Monetary Fund (IMF) has released data showing the growing correlation between cryptocurrencies and the Asian stock market. The report’s authors expressed concern about this correlation and pointed to the need to develop additional measures to regulate the crypto market. The experts called on regulators to establish clear guidelines on financial institutions, raise investor awareness, and increase interaction between authorities across jurisdictions.
The full version of the IMF’s report
What other data did the IMF cite? Experts believe that the increased correlation between markets in Asia may be due to the increased adoption of cryptocurrencies by investors, as well as the acceptance of digital platforms and crypto-based investment vehicles in the stock and over-the-counter markets. This poses risks to traditional financial assets, including volatility and default risks.
In May, Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), called cryptocurrencies an extremely risky asset class and noted that they need to be regulated. She pointed to the fall in market capitalization, noting that cryptocurrencies carry huge risks and cannot be classified as a high-yield investment.
In late July, the IMF warned that the crypto market could face further pressure from sellers and continue to fall. Tobias Adrian, Director of Monetary and Capital Markets for the IMF, said that if the United States goes into recession, digital asset rates will fall even further. In particular, he noted the difficult situation in the field of stablecoins.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$69 583
BTC
+2.64%
-
Ethereum
$2 432.88
ETH
+1.52%
-
BNB Smart Chain
$567.33
BSC
+2.38%
-
Ripple
$0.513799
XRP
+2.35%
-
Dogecoin
$0.170876
DOGE
+8.49%
-
Cardano
$0.33468
ADA
+2.73%
-
Bitcoin Cash
$343.93
BCH
+4.85%
-
Polkadot
$3.87
DOT
+3.36%
-
Litecoin
$66.03
LTC
+0.88%
-
Stellar XLM
$0.093605
XLM
+2.8%