Cryptocurrencies and digital assets constitute a paradigm change in the transmission, storage, and ownership of value across the world. Differing from other financial products, these assets are based on decentralized networks, beyond traditional banking and regulatory frameworks. The prospect of encouraging financial inclusion by offering services to those which lack access to traditional banks has attracted worldwide attention from policymakers. Concurrently, it created advanced challenges to financial integrity, stability, and regulation. In turn, the IMF has softened its position increasingly, trying to strike a good balance between promoting financial innovation and ensuring that the global financial system is not open to new risks.