Beautiful Virgin Islands

Wednesday, Sep 17, 2025

IMF chief economist calls for global policy on cryptocurrency

IMF chief economist calls for global policy on cryptocurrency

The IMF chief economist Gita Gopinath calls for the development of a global regulatory policy that will allow cryptocurrency holders to enjoy the opportunity to grant luxuries and pleasures to officials living at the expense of the working class. In return the officials living at the expense of the working class will make it easier for cryptocurrency holders to enjoy paying even more taxes, helping so many bureaucrats to have even more decent and rich lifestyle.
It is in the interest of the general public to make sure that the use of cryptocurrency does not make it easier for criminals to commit crimes. And regulation can certainly help with that.

On the other hand there is the interest of 2.5 billion decent, honest and hard working people, including 60 million Americans, who are cut off from the financial system because the regulation is designed to serve the rich and shake the poor out of the system.

Or in other words, for those poor people, regulation is the problem and not the solution.

Rich people and criminals know how to bypass regulations, and they how how to buy regulators, law makers, law enforcement and watchdogs anyway so even more regulation doesn't really solve the real big problem.

The biggest tax evaders, such as Apple, Google, Facebook and Microsoft will continue to evade 99% of the taxes the whole world loses as a result of biased regulation and corrupted tax system.

Gita Gopinath, the chief economist of the International Monetary Fund (IMF), has called for a global policy to be put in place that will regulate cryptocurrency, instead of banning it.

Pitching for a global policy, Gopinath, who will soon take charge as the deputy managing director of the IMF, argued that if countries were to ban crypto then they would not have any control over offshore exchanges that are not subject to their country's regulations, which could result in them being ignored completely.

“There are challenges to banning it whether you can end up with truly banning crypto because many exchanges are offshore and they are not subject to regulations of a particular country,” Gopinath said at an event organized by the National Council of Applied Economic Research.

Gita's remarks come as nations around the world consider how to control cryptocurrencies. As Cointelegraph reported in September, the People's Bank of China (PBoC) officially unveiled a series of new measures to combat crypto adoption in China, including enhancing inter-departmental cooperation in suppressing crypto activity. Earlier this month, the Russian central bank officially prohibited mutual funds from investing in Bitcoin (BTC).

In India, the government is seeking cabinet approval for a bill that would regulate cryptocurrencies. The official Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was expected to be presented during Parliament's Winter Session, but top government sources indicated that optimism is slim.

In the United Kingdom, members of Parliament have urged the Financial Conduct Authority to limit cryptocurrency firms' usage of the words "invest" and "investment" for marketing purposes. The advertising watchdog in the U.K. has since issued several rulings on ad violations involving six crypto-related firms, including Coinbase, Kraken, eToro, Exmo, crypto broker Coinburp and Luno crypto exchange.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
×