Cryptocurrencies “do not appear to pose risks to financial stability,” the International Monetary Fund (IMF) said in a report published the second week of April.
In comments on crypto assets as part of its Global Financial Stability Report, the organization continued its recent stance in promoting international agreements on regulation. The report continues, “…they could [pose a risk] should their use become more widespread without the appropriate safeguards.”
The tone is bullish against the titular theme of “a bumpy road ahead” for world finance, and does not discount the potential for cryptocurrency to “transform financial activity.” The report states:
“It is impossible to know the extent to which crypto assets may transform the financial infrastructure and whether most new crypto assets are likely to disappear as in past episodes of technological innovation (as many tech companies did during the boom of the late 1990s, for example). Before they can transform financial activity in a meaningful and lasting manner, crypto assets will first need to earn the confidence and support of consumers and financial authorities.”