In its Financial System Stability Assessment released Thursday, the IMF said cross-border crypto flows have increased faster than traditional capital flows. The IMF said Brazil’s crypto asset market is increasingly connected with the traditional financial system. That connection raises questions about how stress in digital asset markets could spread to banks, payment providers, investment platforms and consumers. Regulators may have less visibility into the origin, destination and purpose of funds than they would through licensed banks or foreign exchange providers. Payments and receipts between electronic foreign exchange providers and foreign counterparties must instead be completed through foreign exchange transactions or movements involving non-resident Brazilian real accounts.