The IMF considers stablecoins a threat to the world economy

The organization suggested global regulation as the main measure to combat risks

14.10.2021 - 08:40

475

1 min

What's new? The International Monetary Fund (IMF) has published a report on threats to global financial stability. The main topics covered in the report are: Covid-19 pandemic, cryptocurrency and climate.

Full IMF Report

What threats are listed in the report? According to the fund's analysts, assets such as stablecoins are a threat to the global economy. Key features include vulnerability to hacking, lack of transparency in coin issuance and distribution, as well as high volatility.

At the same time, the IMF considers these threats to be limited and not currently widespread. However, the further development and popularization of cryptocurrency can be dangerous to the financial stability of individual countries, so the authorities already need to focus on implementing a fully-fledged regulation of the crypto industry. The fund's specialists called the development of global standards for working with digital assets another measure to counter threats.

Author: