IMF Warns Against Adopting Crypto Assets Like Bitcoin as Legal Tender
The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency The International Monetary Fund (IMF) published a blog post on Monday discussing the topic of cryptocurrencies as legal tender. The post titled “Cryptoassets as National Currency? A Step Too Far” was authored by Tobias Adrian, the financial counselor and director of the IMF’s....
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The President of Mexico, Andres Manuel Lopez Obrador, denied having any interest in adopting cryptocurrencies as legal tender in the country. The statements, offered in a press conference in the National Palace this week, also confirmed that the Mexican government will keep dealing with the financial matters of the country in a traditional and orthodox way.
Mexico Won’t Adopt Bitcoin as Legal Tender
The President of Mexico stated his opinions about bitcoin and cryptocurrencies earlier this week. In a press conference offered at the National Palace, Lopez Obrador denied....
Bank of America has outlined some benefits to be had from adopting bitcoin as legal tender in El Salvador. The opportunities include low-cost remittances, financial digitization, more choices, and greater investments from foreign companies. Bank of America Highlights Opportunities Bitcoin Brings to El Salvador as Legal Tender Bank of America (BOA) outlined some potential benefits in El Salvador adopting bitcoin as legal tender in a report published last week. The analysts, including Latin American strategist Claudio Irigoyen, explained that “The market has been excessively....
Alberto Fernandez, President Of Argentina, Is Open To Adopting Bitcoin As Legal Tender To Fight Inflation.
Fitch Ratings, the American credit agency and member of the ‘Big Three’ credit agencies, has published a paper on El Salvador’s adoption of bitcoin and making the crypto asset legal tender in the country. Fitch believes that after the country enforces the new tender law it will face “volatility risk” alongside “regulatory and operating risks” as well. Fitch Ratings Says El Salvador’s Bitcoin Adoption Invites New Risks In 21 days, El Salvador’s bitcoin tender law will be enforced after the bill to make bitcoin legal tender in the....
The recent Bitcoin bull market has attracted a lot more influential names these days. The CIO of Guggenheim Scott Minerd regularly speculates on crypto, Elon Musk is at the forefront of most conversations, and the Presidents of several countries are now adopting the cryptocurrency as legal tender. One of the most skilled names in technical […]