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The International Monetary Fund (IMF) has warned that the stability of some countries鈥� financial systems could soon be at risk because of unregulated crypto assets. Cryptocurrencies and other digital financial products created using blockchain technology are proliferating. They鈥檙e largely free from the controls of governments and central banks, but also free from any significant regulation. The IMF believes 鈥渃omprehensive, consistent and coordinated鈥� global regulation of the sector is now needed to prevent contagion if major crypto assets begin to collapse. Myanmar鈥檚 opposition-led shadow government this week announced that it will accept Tether, a so-called stablecoin, claiming to be pegged to the US dollar, as an official currency - a way of bypassing the control of the country鈥檚 military rulers. Meanwhile, across the border in China, authorities are cracking down on crypto and pushing ahead with plans for the country鈥檚 own Central Bank Digital Currency (CBDC) which critics fear could mark the beginning of the end of anonymous transactions. So, is global finance undergoing a transformation? And are more stringent rules of the road necessary to protect consumers and avoid economic calamity? Ritula Shah is joined by a panel of experts.

Producers: Zak Brophy and Paul Schuster.