The International Monetary Fund has a message for governments: Find ways of regulating DeFi platforms for trading and lending cryptocurrencies before the risk to the global financial system spirals out of control.

The IMF made that call in its latest Global Financial Stability Report, published this week. The document outlines a litany of risks to the global financial system, including “shockwaves from the war in the Ukraine” and a dangerous mix of inflation, debt, and monetary policies.