The IMF Allowed A Sale In The Markets Of Cryptocurrencies And Stocks

The cryptocurrency market is waiting for a fall in the event of a recession in the economy. This opinion was expressed by the head of the department of monetary systems and capital markets of the International Monetary Fund (IMF), Tobias Adrian, writes Yahoo Finance.

He did not rule out the further sale of crypto assets and shares by investors and the possible collapse of various algorithmic stablecoins. 

An IMF spokesman noted that some “stablecoins” not fully backed by cash are at greater risk. For example, a stablecoin from Tether, amid the collapse of TerraUSD for a short time, lost its peg to the US dollar.

A recent IMF report states that the massive sell-off in the cryptocurrency market did not have much of an impact on the global financial system.

However, Adrian noted the need for regulation to protect investors. In his opinion, the relevant authorities should ensure that participants in the bitcoin market comply with securities laws, as well as control the infrastructure of the crypto industry:

“There are 40,000 coins. Regulating the coins themselves is difficult, but regulating exchanges and investment wallet providers is doable.”