Hogan Lovells Engage | 10 May 2018
IMF urges financial regulators to be "nimble and innovative" on FinTech, including cryptoassets
International Monetary Fund (IMF) Deputy Managing Director Tao Zhang has said that policymakers should strike "a sensible balance" to maximize the potential of new technologies, such as blockchain.
Zhang has urged regulators to create a supportive space for innovation, while maintaining a robust regulatory framework to protect consumers and financial stability.
Speaking at the Atlanta Federal Reserve Bank Conference earlier this week about the digitization money and finance, Zhang said that, for now, cryptoassets "are still relatively insignificant compared with conventional assets, and, so far, they do not pose a threat to macro-financial stability".
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