Elements Of Effective Policies For Crypto Assets

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Elements Of Effective Policies For Crypto Assets

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-23

Elements Of Effective Policies For Crypto Assets written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-23 with Business & Economics categories.

This paper aims to address questions by Fund members on how to respond to the rise of crypto assets and the associated risks. To frame the discussion, the paper defines and classifies crypto assets based on their underlying features and describes their purported benefits and potential risks. The paper presents a policy framework for crypto assets that aims to achieve key policy objectives such as macroeconomic stability, financial stability, consumer protection, and market and financial integrity. The framework outlines key elements that are necessary to ensure that these objectives are met. However, such a framework will not fix any underlying crypto design flaws (for instance, the lack of a credible nominal anchor, payments finality, or scalability).

Kenya

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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2025-01-08

Kenya written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-08 with categories.

This technical assistance report outlines the current state and future objectives for regulating crypto assets in the Republic of Kenya. The report, prepared at the request of Kenya's Capital Markets Authority, involved an analysis of crypto-asset activities and the related regulatory framework. The report emphasizes the need for a clear legislative framework with specific definitions and classifications of crypto assets, effective inter-agency cooperation, and continuous market monitoring. It highlights the importance of consumer protection through increased financial literacy and regulatory clarity. The diligent efforts of authorities to guide the public have underscored the need for a regulatory framework to mitigate risks and support market integrity. The development of this framework should consider the unique challenges and opportunities within Kenya's crypto market, ensuring it is robust, transparent, and capable of fostering innovation while protecting consumers and maintaining financial stability. Additionally, the report recommends leveraging international best practices to enhance the effectiveness of Kenya's regulatory approach.

Assessing Macrofinancial Risks From Crypto Assets

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Author : Ms. Burcu Hacibedel
language : en
Publisher: International Monetary Fund
Release Date : 2023-09-29

Assessing Macrofinancial Risks From Crypto Assets written by Ms. Burcu Hacibedel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-29 with Business & Economics categories.

Failures in the crypto space—including the fall of Terra USD and the FTX debacle—have sparked calls for strengthening countries’ policy frameworks for crypto assets, including by enhanced regulation and supervision. How have these heightened concerns about crypto assets been picked up in systemic risk assessment, and what can be done going forward? In this paper, we introduce a conceptual macrofinancial framework to understand and track systemic risks stemming from crypto assets. Specifically, we propose a country-level Crypto-Risk Assessment Matrix (C-RAM) to summarize the main vulnerabilities, useful indicators, potential triggers and potential policy responses related to the crypto sector. We also discuss how experts and officials can weave in specific vulnerabilities stemming from crypto asset activity into their assessment of systemic risk, and how they can provide policy advice and take action to help contain systemic risks when needed.

Concepts Technologies Challenges And The Future Of Web 3

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Author : Lekhi, Pooja
language : en
Publisher: IGI Global
Release Date : 2023-08-29

Concepts Technologies Challenges And The Future Of Web 3 written by Lekhi, Pooja and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-29 with Computers categories.

Web3 is a term which refers to the third generation of the World Wide Web; it is a decentralized internet architecture that uses blockchain technology, smart contracts, and other decentralized technologies to create a more secure and transparent internet.Concepts, Technologies, Challenges, and the Future of Web 3 is led by researchers with a valuable mix of industry and academic experience. The book delves into the concepts of decentralization, trustlessness, and interoperability and explores the challenges of Web3, including scalability, security, and regulatory compliance. It examines the current and potential future use cases of Web3, such as decentralized finance, supply chain management, identity verification, and decentralized social networks. “The core building blocks of Web3” is not just for researchers, academics, and students in computer science and related fields but also for developers, entrepreneurs, and businesses looking to build applications and services in the Web3 space. It offers a clear understanding of the technical and conceptual frameworks underpinning Web3 and the challenges and opportunities in the decentralized web. Moreover, the book is valuable for policymakers, regulators, and legal professionals interested in understanding the regulatory frameworks and legal implications of Web3. It provides insights into the potential impact of Web3 on governance, regulation, and law, highlighting the need for new policy frameworks to address the challenges and opportunities presented by the decentralized web.

Financial Technology Law And Regulation In Africa

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Author : Iwa Salami
language : en
Publisher: Taylor & Francis
Release Date : 2024-09-30

Financial Technology Law And Regulation In Africa written by Iwa Salami and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-30 with Law categories.

This book comprehensively analyses financial technology law and regulation in Africa and provides domestic and regional perspectives on regulating FinTech in Africa. It studies policy considerations that can assist African policymakers in facilitating a balanced regulatory approach that does not stifle financial innovation. The growth of financial technology in Africa presents huge opportunities for inclusive growth on the African continent. Digital finance, which sits at the heart of financial technology, could be key to placing Africa back on the economic recovery trajectory after the COVID-19 crisis, facilitating its speed in achieving the UNSDG 2030 goals and setting the continent on course to meet its African Union Agenda 2063. This book: - Examines mobile financial services, crowdfunding, crypto-assets, digital currencies including central bank digital currencies, decentralised finance and open banking and finance, all from an African perspective; - Explores the status of regulation in these areas in Africa, highlighting areas where regulation is lacking, inadequate and in need of reform; - Highlights pragmatic approaches to regulation such as including the adoption of regulatory sandboxes and regulatory technology and discusses requirements for the adoption of supervisory technology in Africa; - Scrutinises the implications of developments in the FinTech space in Africa for international security and economic and financial stability. Placing Africa in the global context, the book argues for an international effort to understand the global dimensions of FinTech developments so that robust and applicable global regulatory frameworks can be applied in developing parts of the world. It will provide useful insights to investors, policy makers and entrepreneurs. It will also be essential reading for students and researchers in the field of technology, public policy, regulatory policy, financial policy, banking, and finance law.

The Limits Of Defi For Financial Inclusion Lessons From Asean

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2024-03-14

The Limits Of Defi For Financial Inclusion Lessons From Asean written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-14 with categories.

Decentralised finance, including crypto-asset markets and DeFi protocol activity, has been promoted as a tool to support the democratisation of finance. This report presents quantitative evidence from ASEAN economies that participation in decentralised finance markets has been largely driven by speculative forces and a fear of missing out, rather than by practical use-cases that can promote financial inclusion.

Republic Of Armenia

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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-08-14

Republic Of Armenia written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-14 with Business & Economics categories.

Armenia has committed to the adoption of the OECD’s Crypto-Asset Reporting Framework. To give effect it will need to enact legislation. An eight-step roadmap for implementation was developed. It sets out each activity, assigns responsibilities and sets timelines.

Regulating The Crypto Market In Nigeria

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Author : Jose De Luna Martinez
language : en
Publisher: International Monetary Fund
Release Date : 2025-07-11

Regulating The Crypto Market In Nigeria written by Jose De Luna Martinez and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-07-11 with categories.

In recent years; the trading of crypto assets has surged among individuals and businesses in Nigeria. The authorities are strengthening the regulatory and supervisory framework for crypto assets to address potential risks including undetected capital outflows and currency speculation; money laundering; terrorism financing and consumer fraud. Moving forward; they should enforce this framework by identifying unlicensed crypto firms and preventing them from operating in Nigeria; collecting taxes on capital gains; and preventing crypto platforms from serving as informal channels to bypass capital flow restrictions. Authorities should also continue to develop robust analytical tools for effective market surveillance; ensure AML/CFT supervisory activity commensurate with money laundering and terrorism financing risks; and actively cooperate and share information with international counterparts.

Crypto Assets And Cbdcs In Latin America And The Caribbean Opportunities And Risks

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Author : Maximiliano Appendino
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-17

Crypto Assets And Cbdcs In Latin America And The Caribbean Opportunities And Risks written by Maximiliano Appendino and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-17 with Business & Economics categories.

After providing a general overview of the nature, pros, and cons of crypto assets and CBDCs, this paper focuses on documenting their recent experience in LAC. The region records a high interest in unbacked crypto assets and stablecoins and its authorities’ policy responses have varied substantially, ranging from the introduction of Bitcoin as legal tender in El Salvador to their prohibition in many other countries worried about their impact on financial stability, currency/asset substitution, tax evasion, corruption, and money laundering. This paper also describes briefly the results of a survey on CBDCs’ introduction plans and crypto assets regulation. Finally, this paper presents some general lessons and policy recommendations for the region on the regulation of cypto assets, digital currencies and cross-border payments, and on the potential introduction of CBDCs.

Nigeria

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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2025-07-02

Nigeria written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-07-02 with categories.

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