The International Monetary Fund (IMF) chief said that cryptocurrencies need to be regulated with rules and infrastructure as 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 at a conference in Seoul on digital currencies.
Given that the country s technologists are providing impetus for digital transformation globally and that the market is too large to stay out of this new phenomenon, the global industry is waiting for India to provide legal clarity on cryptos and virtual assets.