IMF publishes report on virtual currencies

The International Monetary Fund has published the report Virtual Currencies and Beyond: Initial Considerations. The report points at different challenges related to the regulation and policy-making of virtual currencies, including consumer protection, taxation and financial stability. According to the report, proper policy responses ‘will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation.’ At the international level, best practices and international standards should guide regulatory responses and promote harmonisation across jurisdictions.