Gita Gopinath, who will take over as First Deputy Director of the International Monetary Fund(IMF) next year, considers a complete ban on cryptocurrency impossible, and advocates coordinated regulation of the industry.
At the conference of the National Council of AppliedEconomic Research (NCAER) Geeta Gopinath emphasized that digital assets do not threaten the traditional financial system, but governments cannot ban them.
Regulation is absolutely essential for the crypto industry. Countries are trying different options in this direction, but it is clear that there may be certain problems with a complete ban.
According to Gopinath, the fact that people usecryptocurrency as an investment asset means that the same laws that apply to traditional financial assets need to be applied to it.
She believes that no country alone can solve the problem of cryptocurrencies.
Most crypto exchanges operate offshore and are not subject to country-specific regulation. So there is an urgent need for global politics on this front
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