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The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies. The board stressed the need to develop comprehensive crypto regulations to “better mitigate the risks posed by crypto assets while also harnessing the potential benefits of the technological innovation.” IMF Executive Board Provides Guidance on Crypto Regulation The International Monetary Fund (IMF) announced on Thursday the outcome of a discussion held by its executive board directors on a paper titled “Elements of Effective Policies for Crypto Assets.” Noting that the paper sets forth a regulatory framework that “can help members develop a comprehensive, consistent, and coordinated policy response” to crypto assets, the IMF emphasized: By adopting the framework, policymakers can better mitigate the risks posed by crypto assets while also harnessing the potential benefits of the technological innovation associated with it. The first elem

U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor discouraged from providing banking services to customers of any specific class or type, as permitted by law or regulation.” US Regulators Issue Joint Statement on Crypto The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) jointly issued a statement regarding crypto on Thursday. The Federal Reserve, the FDIC, and the OCC explained that their statement “highlights key liquidity risks associated with crypto assets and crypto-asset sector participants that banking organizations should be aware of.” They warned: In particular, certain sources of funding from crypto asset-related entities may pose heightened liquidity risks to banking organizations due to the unpredictability of the s