🏛️🇧🇷 IMF calls on Brazil to impose controls on digital asset flows
An International Monetary Fund paper has found that digital asset transfers in Brazil now exceed in volume those of traditional financial channels, urging Brazilian authorities to strengthen monitoring and oversight mechanisms for these transactions.
The IMF identifies Brazil as one of the emerging markets with the highest digital asset penetration in Latin America, warning that the growth of such transfers poses risks to financial stability and to the effectiveness of capital flow management policies. The Fund notes that Brazil's current regulatory framework is not calibrated to systematically track and classify these flows, limiting authorities' ability to measure the financial system's exposure.
The IMF's proposed remedies include expanded mandatory reporting obligations on intermediaries and enhance...
🔗 Read the full article on Atlas21
An International Monetary Fund paper has found that digital asset transfers in Brazil now exceed in volume those of traditional financial channels, urging Brazilian authorities to strengthen monitoring and oversight mechanisms for these transactions.
The IMF identifies Brazil as one of the emerging markets with the highest digital asset penetration in Latin America, warning that the growth of such transfers poses risks to financial stability and to the effectiveness of capital flow management policies. The Fund notes that Brazil's current regulatory framework is not calibrated to systematically track and classify these flows, limiting authorities' ability to measure the financial system's exposure.
The IMF's proposed remedies include expanded mandatory reporting obligations on intermediaries and enhance...
🔗 Read the full article on Atlas21