IMF chief says rules, infrastructure needed to prevent crypto risks

FILE PHOTO: A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration

SEOUL (Reuters) -The head of the International Monetary Fund (IMF) said on Thursday that crypto currencies need to be regulated because they pose risks to financial stability.

"The challenge is that high crypto asset adoption could undermine macro-financial stability," the IMF's managing director, Kristalina Georgieva, said in her opening speech at a conference in Seoul on digital currencies.