The joint paper from the International Monetary Fund (IMF) and G20’s risk watchdog, the Financial Stability Board (FSB), has attempted to offer a roadmap for regulating crypto assets and helping nations integrate virtual digital assets into their digital financial systems.
“They (blanket bans) also tend to increase the incentives for circumvention due to the inherent borderless nature of crypto assets, resulting in potentially heightened financial integrity risks, and can also create inefficiencies," the paper said.
The paper also called on nations to implement the Financial Action Task Force (FATF) anti-money laundering and counter-terrorist financing (AML/CFT) standards for virtual assets (VAs) and virtual asset service providers (VASPs). It also recommended developing a common framework and collection of ‘test data’ on digital money and crypto assets for being used as a means of payment that are enabled by fintech firms.
Bu hikaye Mint Mumbai dergisinin September 08, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin September 08, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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