An IMF report says the risks from the rapid adoption of crypto assets are fast rising and, rather than ban them, ways and means must be found to regulate them
Cryptocurrency (Representative image: Reuters)
The spectre of crypto-currency is haunting central banks. Crypto-currency adoption is proceeding by leaps and bounds. From a mere $ 191 billion at the beginning of last year, the current market capitalisation of crypto assets total more than $ 2 trillion, as the accompanying chart shows. Crypto asset market capitalization is now comparable to some established asset classes, such as US high-yield bonds. (image) It’s no wonder then that central banks are a worried lot. The International Monetary Fund’s Global Financial Stability…
