BENGARURU (Reuters) – International Monetary Fund (IMF) managing director Georgieva said on Monday that the option of banning private cryptocurrencies should not be ruled out.
“We need to distinguish between state-backed central bank cryptocurrencies and privately issued stablecoins and crypto-assets,” he said.
US Treasury Secretary Janet Yellen did not propose a “complete ban on cryptocurrency activity,” but said it was “important to put it under a strong regulatory framework.”
The meeting of finance ministers and central bank governors of the Group of 20 countries and regions (G20) in Bengaluru, southern India, concluded on the 25th. Managing Director Georgieva co-chaired a roundtable on developing country debt issues with India’s Finance Minister Sitharaman. The Indian presidency has argued that regulation of digital currencies should be a priority.