Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on May 23. Photo: Bloomberg
IMF’s Georgieva defends cryptocurrency after crash for ‘faster service’ and ‘lower costs’
- Georgieva distinguished between stablecoins backed by assets like cash and those like TerraUSD, an algorithmic stablecoin that imploded earlier this month
- It is the responsibility of regulators across the globe to put up guardrails and offer education to protect investors, she said
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on May 23. Photo: Bloomberg