The International Monetary Fund's Fiscal Stability Board said the growing adoption of cryptocurrencies could potentially increase the risks to the global economy.

In its Global Financial Stability Report released on Tuesday, the International Monetary Fund, or IMF, said the adoption of crypto assets and stablecoins in emerging markets and developing economies could pose a claiming to those countries' macroeconomic and financial stability. The group said the risks were "contained for now," just urged regulators to monitor cryptocurrencies and continue them in check.

The International monetary fund added that as the crypto infinite expanded and evolved, "new sources of risk" were emerging, such as stablecoins and decentralized finance, or DeFi. Specifically, the group identified the space at risk from hacking as having a "lack of transparency around issuance and distribution" of tokens, and operational risks including outages during periods of extreme volatility. It also labeled "meme tokens" and centralization — a major exchange like Binance treatment a large corporeality of trading volume, while Tether is responsible for the majority of the supply of stablecoins — as factors to consider.

"So far, losses as a effect of such risks have not had a meaning impact on fiscal stability, globally or domestically," said the International monetary fund. "Still, as crypto avails grow, the macro-criticality of such risks is probable to increase."

Related: IMF issues veiled warning against El Salvador's Bitcoin Law

Highlighting the risks of developing countries adopting digital assets is a common tagline for the International monetary fund, with the group having previously reported on the challenges of central bank digital currencies and stablecoins. The group has warned both the Republic of the marshall islands and Republic of el salvador that recognizing a digital currency every bit legal tender could "heighten risks to macroeconomic and fiscal stability as well as financial integrity."

Earlier this month, the IMF released a set up of policies for the emerging markets and developing economies to ensure financial stability amid global crypto adoption, given managing director Kristalina Georgieva'south claim that more than half of all central banks in the world are exploring how to launch digital currencies. Recommendations from the group included lawmakers "implement[ing] global standards for crypto assets and [enhancing] their ability to monitor the crypto ecosystem by addressing data gaps."