Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), emphasized the need for regulation of cryptocurrencies due to their potential risk to financial stability. She pointed out that the widespread use of crypto assets could disrupt the effectiveness of monetary policy transmission, capital flow management measures, and fiscal sustainability due to uncertain tax earnings. The goal is to mitigate these risks by establishing rules for cryptocurrencies while leveraging their technology to build infrastructure for a more efficient, interconnected financial system. Georgieva clarified that the aim is not to regress to a pre-cryptocurrency world or stifle innovation, but to stimulate and guide innovation through effective regulation.