On June 22, just months after proposing banning cryptocurrencies as an option, the International Monetary Fund (IMF) said it may not be the best way to mitigate the risks associated with it. Stated.
“Some countries have outright banned cryptoassets given the risks, but this approach may not be effective in the long run,” the IMF said in a statement. Posted on website about interest in introducing bank digital currency (CBDC). “The region will instead focus on addressing factors driving cryptocurrency demand, including the unmet needs of its citizens for digital payments, and improving transparency by recording cryptocurrency transactions in national statistics. should be placed.”
According to the IMF, Latin American countries such as Brazil, Argentina, Colombia and Ecuador will be among the top 20 in terms of global cryptocurrency penetration in 2022. However, Argentina banned the use of crypto assets in May of the same year.
Many countries around the world are seeking to issue digital versions of their national currencies issued by central banks. The Bahamas and Nigeria have already issued CBDCs, and the European Union’s digital euro bill is expected to be announced later this month.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Original: Crypto Ban May Not Be Best Approach to Balance Risk, Demand: IMF