IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance

IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance


An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing director at the IMF, believe that, given the growing links between legacy finance and crypto, cryptocurrency’s volatility might bring systemic risks to the existing markets.

IMF Blog Post Calls for Containing Future Crypto Contagion

The volatility and instability of cryptocurrency markets are starting to worry regulators from all over the world. On Jan. 18, Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and

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