The International Monetary Fund (IMF) has pointed out that virtual currencies (encrypted assets) are both dangerous and an opportunity.
Ross Rekov, deputy director of the International Monetary Fund, said, " There is a risk in terms of virtual currency at the 2018 G20 Global Financial Security Conference hosted by the Ministry of Strategy and Finance and the Korea Development Institute. It could be an opportunity.
" (Virtual currency) can be used for money laundering and terrorist funds, " said Lekov, who said, " If the money is approved between borders, it is cheaper and more efficient than previous methods. " " We can make regulations effective by using blockout technology. "
However, Rekov pointed out that regarding virtual currency, there is a problem of definition. " The cryptography has general product aspects, monetary aspects and various characteristics, " he explained.
" Since there is no global consensus on how the international community responds, each country has different responses, " said Lekov. He said, " How can we regulate virtual currency effectively? " and asked a student at South Africa University, " The IMF does not have an ideal regulatory model for ciphering or money laundering. "
" It is difficult for law enforcement agencies to take such technology changes because standards are changing, " he stressed. The G20 will hold a meeting of finance ministers next month to discuss the issue. The finance ministry will share the government`s position at a meeting next month.
Although the IMF ' virtual currency ' is dangerous, it can be an opportunity - http://coinkr.kr