Lao People’s Democratic Republic: Technical Assistance Report-Regulation and Supervision of Crypto Assets

International Monetary Fund

No 2023/319, IMF Staff Country Reports from International Monetary Fund

Abstract: This technical assistance report describes the regulation and supervision of crypto assets in Lao People’s Democratic Republic (LAO P.D.R.). Crypto uptake in Lao P.D.R. seems to be limited so far, and so consumer protection risks appear contained. The authorities are in the process of considering an appropriate regulatory and supervisory framework for mining and trading activities. The current regulatory framework for crypto trading platforms is a positive step to managing risks but would benefit from key prudential and conduct additions. Authorities should continue their efforts to coordinate domestically and cooperate with foreign peer regulators. Due to the novelty of the industry and the limited size of the Lao PDR market, the most prominent risks arising from crypto trading in the short term are likely to be generated by complex interconnections within crypto markets and broader financial markets. The mission commends the authorities in their coordinated approach to this new regime, and would like to encourage them to continue deepening that coordination.

Keywords: trading platform; Lao PDR market; crypto trading license; market abuse; consumer protection risk; TA recipient; Virtual currencies; Mining sector; Capital markets; Financial sector stability; Blockchain and DLT; Global (search for similar items in EconPapers)
Pages: 23
Date: 2023-08-31
New Economics Papers: this item is included in nep-pay and nep-sea
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