The International Monetary Fund (IMF) announced its 9-point action plan, stating that the recognition of Bitcoin (BTC) and cryptocurrencies as legal currency poses global risks.
The IMF announced its 9-item action plan in a statement published on its official website on February 23.
Among the most striking topics among the 9 articles shared by the IMF, cryptocurrencies legal currency being recognized as global risks He stated that he had. Rather than being banned altogether, the institution generally controlled isolation. Although some members suggest that they are banned completely. best option claimed it was. On the other hand, the institution coordinated regulation. stressed its importance.
Puts Monetary Sovereignty at Risk
The institution brought by the legal recognition of cryptocurrencies the biggest one of the problems monetary dominance He said it was a risk. accepted as legal currency independent The effectiveness of central banks, which are the institutions that cryptocurrencies frequently apply to ensure the financial stability of countries. to limit The institution that draws attention is the control of central banks over this issue. not to lose argued that it should.
Governor of the Reserve Bank of India (RBI) Shaktikanta Das has also made similar statements in the past days, and the monetary policies of cryptocurrencies you undermine had claimed.
Legal Status Contains Global Risks
Due to the nature of the institution cryptocurrencies of mobility due to high spherical One “risk of contagion” He said he has. granting legal status relevant countries only The IMF, which claims that it can affect not only many different countries but also many different countries, change the flow of capital, exacerbate financial risks, increase illegal financial activities He underlined that there are many risks such as
A Coordinated Regulatory Framework Should Be Established
The IMF draws attention to the cross-border nature of cryptocurrencies and risks risks. limit, traditional financial system and maintaining financial stability on behalf of all regulatory bodies coordinated work One necessity claimed it was.
Coordinated regulatory policy only traditional financial institutions not by the cryptocurrency industry actors It is also known to be supported by Binance CEO Changpeng Zhao (CZ) many times in the past coordinated somehow regulatory framework for a secure cryptocurrency economy vitally important He emphasized that he had
Monitor, Control and Tax
Other than the main topics, the IMF’s advice to countries is to consider their nature, instead of banning cryptocurrencies. monitor and analyze by institutions keep under control And set a clear tax policy Other recommendations were also included. Although cryptocurrencies carry risks, the IMF advises countries that this ecosystem their understanding of technology And their use He recommended.