In its recent report, International Monetary Fund attacked cryptocurrencies in general and stablecoins in particular. According to the Fund representatives, stablecoins are not reliable enough to become a part of the international financial system. Among the vulnerabilities of stablecoins they listed non-transparent emission and distribution, risk of breakthroughs, instability due to high volatility.

IMF analysts called the regulators of developing countries down to prevent losing control over cryptocurrencies - it could be facilitated with the lack of the legal framework. The report outlines that cryptocurrencies and stablecoins may bear serious danger to unstable economies.

IMF calls the international financial community to introduce global standards for crypto assets, which, according to experts, may prevent 'infection' of other markets.

"As the capitalisation of the crypto market grows, the importance of these risks to macroeconomics may grow as well", so commented the specialists.

Recently, IMF has been calling to strengthen regulation of the crypto industry more and more often. It may be a reaction to such events as legalisation of Bitcoin in Salvador, the introduction of free conversion of USDC to USD in the MoneyGram platform, and other signs of popularisation of cryptocurrencies.

We believe that the regulators may have some ground for being worried since they risk losing control over both the shadow economy and the population's finances, should people switch to cryptocurrencies more. What do you think, is this scenario really threatening or will the cryptocurrencies remain a by-product of the financial world?