Saudi Central Bank urges IMF to address crypto-related risks
Ayman Alsayari, the governor of the Saudi Central Bank (SAMA), is encouraging the International Monetary Fund (IMF) to regulate crypto currency. “ We need good supervision, regulation, and coordination of crypto currency activities,” Alsayari said at a recent event in Marrakech, Morocco, where the IMF Annual Meetings were held from Oct. 9-15. “In this context, we support the work and relevant roadmap of the IMF and the Financial Stability Board to address risks related to crypto currencies.” According to Saudi Gazette, the G20 Roadmap — unveiled at the G20 Finance Ministers and Central Bank Governors (FMCBG) — includes enhanced regulation of cryptocurrency activities. Tackling cryptocurrency uncertainties The G20 Roadmap for regulating crypto assets and reforming multilateral development banks (MDBs) is expected to coordinate global policy, develop mitigating strategies and regulate matters concerning crypto assets. The IMF is also calling for refor...