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ADDITIONAL BITCOIN NEWS.......IMF calls for corporation on Crypto + More!

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The International Monetary Fund (IMF), an organization that aims to foster global monetary cooperation and financial stability, has called for global coordination on cryptocurrencies, warning of the risks of surging cryptocurrency prices.

According to an IMF spokesman Gerry Rice said late last week there is a need for "greater international discussion and cooperation among regulators."

Rice added:

"When asset prices go up quickly, risks can accumulate, particularly if market participants are borrowing money to buy. It's important for people to be aware of the risks and take the necessary risk-management measures."

The spokesman also stressed that cryptocurrencies pose dangers beyond investors' losses, and can potentially be used for money laundering, terrorist financing, tax evasion and fraud.

Previously, the IMF has advocated a balanced approach on cryptocurrency regulation. Christine Lagarde, managing director of the organization, said in September of 2017 that cryptocurrencies may give traditional government-issued currencies a "run for their money" and it is "not wise" to ignore them.

She added that cryptocurrencies would bring "massive disruptions" and warned that central banks and financial services need to pay closer attention to the technology.


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