IMF Sees Crypto As Investment Opportunity Rather Than Instrument For Asset Storage - Chief

WASHINGTON (UrduPoint News / Sputnik - 19th October, 2021) The International Monetary Fund (IMF) considers cryptocurrency an opportunity for the future rather than a stable way to keep assets, IMF Managing Director Kristalina Georgieva said on Tuesday.

"Why we are careful about the crypto assets, because they are more like an investment opportunity than a traditional way of serving as a stable store of value and one that you can rely on in daily operations," Georgieva said during a virtual discussion on the digital economy.

Crypto assets are not backed up like conventional money, she added.

Georgieva also called for regulation of the digital economy. "Regulation matters," she said.

The IMF chief further stressed the importance of harnessing new technology in order to improve the global economy. "If the technology is not there, (financial) inclusion is hard to achieve," Georgieva explained.