Global cryptocurrency regulation

With how much any news about cryptocurrency regulation in different territories can move the markets, I wanted to share this article I read this morning with insights into the IMF's view on global cryptocurrency regulation.

As we continue to see articles on this country banning cryptocurrency mining or that country banning cryptocurrencies all together, it's important to maintain a macro perspective as well. Consider this - if a certain country (let's say China) decides to ban cryptocurrencies all together, but businesses in the rest of the world is using cryptocurrencies to conduct business, how would China stay relevant? What would drive businesses to do business with or in China if they are stuck using obsolete technology?

The article attached discusses at a high level the IMF's view of cryptocurrencies (giving some macro regulation perspective). More specifically, they see global regulation as "inevitable" and focused on "who is doing what, and whether they're properly licensed and supervised". This does not equal a cryptocurrency ban.

https://www.coindesk.com/imf-chief-lagarde-global-cryptocurrency-regulation-is-inevitable/