Bitcoin (still) in danger? “Cryptocurrencies are nothing” according to the IMF

Crypto or not crypto? While a meeting of G20 took place in India last weekend, the IMF Managing Director Kristalina Georgivatook the opportunity to make some statements about cryptocurrencies. The latter explained that the International Monetary Fund would prefer to regulate crypto-assets rather than ban them. However, several caveats remain: the IMF is in favor of crypto regulation, but only for MNBCs and stablecoins. Bitcoin and its remaining peers, still panicking the international institution.


IMF in favor of crypto regulation

THE G20, currently chaired by India, therefore met recently in Bengaluru. This meeting brought together the political and institutional actors of our world economy such as the IMF and the International Monetary Fund. The United Nations agency then developed its vision of cryptocurrencies, that it does not imagine being able to develop without a strict regulation.

“We are very much in favor of regulating the digital currency world. »

Kristalina Georgieva – Source: Bluomberg

This vision of cryptocurrencies is shared by the G20 which had made crypto regulation one of its priorities for the year 2023.

The IMF still not inclined to promote the adoption of Bitcoin (BTC)
For the IMF, MNBC and stablecoins have a future, but not Bitcoin (BTC)

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Bitcoin no, MNBCs and stablecoins yes!

So let’s not get carried away. When the head of the IMF talks about cryptocurrencies, she addresses in reality the MNBC, Digital currencies of Central Banks, supported by States. Indeed, it supports stablecoins that would allow: a “ reasonably good space for economy “.

This position taken by the IMF is not new. THE centralized cryptocurrencies remaining in the spotlight and Bitcoin and cryptocurrencies, ending up in the closet:

“We need to differentiate between central bank digital currencies [MNBC] which are state-backed and stablecoins, and crypto-assets which are privately issued (…) crypto-assets are nothing, they cannot be accepted as legal tender. »

And, precisely for this reason, the United Nations takes the opportunity to once again strike its enemy El Salvador. Recalling in these terms that:

“Crypto assets should not be granted official currency or legal tender status in order to preserve monetary sovereignty and stability. »

As he continues torage over the adoption of Bitcoin (BTC) in El Salvador, the IMF is placing its pawns on the economic chessboard by promoting central bank digital currencies, which continue to gain ground. From Saudi Arabia, to Ukraine, via Bank of Japanthe international superpowers want to impose their MNBC to the detriment the very principles that enabled the creation of Bitcoin.

No matter what the IMF says, your enthusiasm for Bitcoin and cryptocurrencies knows no bounds! Register now on eToro and start getting acquainted with the exciting world of blockchain technology (commercial link).

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