The International Monetary Fund (IMF) has expressed concern that Bitcoin and other cryptocurrencies are becomingby national payment means. The statement was published on August 29 in a tweet, which added a link to the article on this topic.
«Crypto assets, such as Bitcoin, are associated with significant risks. Equating them to the national currency is an unnecessary trick.
Privately issued cryptoassets like Bitcoin comewith substantial risks. Making them equivalent to a national currency is an inadvisable shortcut. Read more in our #IMFBlog by the IMF’s Tobias Adrian and @RhodaWeeksBrown: https://t.co/r1NwBuyAq8 pic.twitter.com/Sk9tOjvhD6
— IMF (@IMFNews) August 29, 2021
Bo-first, the MBF is safe with a growing number of countries, such as the Salvadop, who have adopted bitcoin as their national currency, and so, as you can use it
Last week, Hondurpac installed the firstCryptobank, and Cuba has become a common country, which announced and began to regulate such cryptocurrencies, like bitcoin. By adopting the cryptocurrency, Cuba will be able to bypass the embargo of the United States, which prohibits trading with the stem and making money transfers there.
«Some countries may be seduced by the idea of accepting cryptoassets as national currencies. Many of them do offer security, easy access and cheap transactions.
However, we believe that in most cases the risks and costs outweigh the potential benefits, the IMF statement says.
And although the declaration mentions that the cryptocurrenciesThey can increase the amount of money by financial services, offer a competition between payment services and allow you to carry out cross-border transactions, which also offers
The article says that it is paired with largeexpenditures, as well as with the need for taking complex decisions, such as "determining the poles as a state, as well as a frequent turnover in the review
The cryptocurrency is riched by sharp vibrationscost. For example, the bitcoin price reached its historic peak of $ 65,000, and after two months it dropped by half. In addition, the cryptoindustry pushed the introduction of a ban on mining in China; Difficulties were also with the new infrastructural law of the USA.
The blog also indicates what the crypto assets areused in the quality of national currencies, pose a serious threat to high-level stability and integrity, protection of the
«When mining such crypto assets asBitcoin requires a huge amount of electricity to power the computer networks that verify transactions. The environmental consequences of accepting these cryptoassets as a national currency could be terrifying.
It is interesting that according to the description of the first contrived minutes in the MBF they approve the release of digital currencies of the central bank, which are significantly used according to the bitmap
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