IMF Advises Against Cryptocurrency Ban
The IMF, in an article addressing CBDCs and cryptocurrencies in Latin America and the Caribbean, acknowledges, “While a few countries have completely banned crypto assets given their risks, this approach may not be effective in the long run.” Interestingly, the article places more emphasis on the benefits of Central Bank Digital Currencies (CBDCs) rather than cryptocurrencies, while also highlighting potential problems linked with digital assets. Furthermore, the IMF recommends improving transparency by including cryptocurrency transactions in national data records.
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The IMF, in an article addressing CBDCs and cryptocurrencies in Latin America and the Caribbean, acknowledges, “While a few countries have completely banned crypto assets given their risks, this approach may not be effective in the long run.”
Interestingly, the article places more emphasis on the benefits of Central Bank Digital Currencies (CBDCs) rather than cryptocurrencies, while also highlighting potential problems linked with digital assets.
Furthermore, the IMF recommends improving transparency by including cryptocurrency transactions in national data records.
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