The IMF has indicated that crypto regulation, not prohibition, could be more beneficial. Notes the value of crypto in boosting financial inclusion and payment efficiency.
The IMF said Brazil, Argentina, Colombia and Ecuador — whose governments’ regulation of crypto was “in progress” — ranked among the highest countries in the world for the adoption of digital assets in an effort to help the unbanked, send faster and cheaper payments, and more. In addition, according to the fund, most central banks in the region “have or are considering adopting digital currencies.
”“If well designed, CBDCs can strengthen the usability, resilience, and efficiency of payment systems and increase financial inclusion in [Latin America and the Caribbean],” said the IMF. “While a few countries have completely banned crypto assets given their risks, this approach may not be effective in the long run.
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