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IMF calls for tighter crypto regulation in Africa as the industry unfolds

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cointelegraph.com

The International Monetary Fund (IMF) is calling for increased regulation of Africa's crypto markets, one of the fastest-growing markets in the world, the global institution blog reported on Nov.

22. Among the reasons why countries in the region should embrace regulation, the monetary fund cited the collapse of FTX and its ripple effect in cryptocurrencies prices, which is "prompting renewed calls for greater consumer protection and regulation of the crypto industry."Moreover, the authors argue that "risks from crypto assets are evident" and "it’s time to regulate" to find a balance between minimizing risk and maximizing innovation.

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