London Daily

Focus on the big picture.
Tuesday, Oct 14, 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

0:00
0:00
Close
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Australian Prime Minister’s Private Number Exposed Through AI Contact Scraper
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
China’s lesson for the US: it takes more than chips to win the AI race
Australia Faces Demographic Risk as Fertility Falls to Record Low
California County Reinstates Mask Mandate in Health Facilities as Respiratory Illness Risk Rises
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
French Political Turmoil Elevates Marine Le Pen as Rassemblement National Poised for Power
China Unveils Sweeping Rare Earth Export Controls to Shield ‘National Security’
The Davos Set in Decline: Why the World Economic Forum’s Power Must Be Challenged
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
×