In its report, the IMF stated that banning cryptocurrencies may not be effective in the long run. According to the report, while Latin American and Caribbean countries show interest in digital currencies, the use of crypto varies. The IMF recommends that countries address the factors that encourage the use of crypto and focus on addressing their unmet digital payment needs. The report notes that while crypto presents risks for vulnerable countries, there are government officials who see central bank digital currencies as a tool to improve payment systems and expand financial inclusion. To mitigate risks while reaping the potential benefits of crypto, the IMF recommends maintaining monetary policy, managing capital flows, exercising prudent surveillance, and strengthening global cooperation. It has been suggested that countries that ban crypto should reconsider their strategies and address the drivers of crypto demand. In addition, increasing transparency by recording transactions in national statistics came to the fore as a suggested approach in the report.