IMF director expects more crypto drop amid a recession

    The International Monetary Fund (IMF) director Tobias Adrian has warned of further selloffs in crypto assets and equities. He also expects crypto to drop even more amid a recession. Tobias Adrian, director of Monetary and Capital Markets for the IMF, warned about further selling pressure in the crypto market and more crypto token failures in…

    Argentina’s central bank blocks banks from offering crypto amid IMF pressure

    Argentina’s central bank (BCRA) has banned financial institutions from offering unregulated digital assets services. The move comes roughly a month after the International Monetary Fund (IMF) approved a $45 billion loan facility that required the country to discourage the use of cryptocurrencies. On May 5, BCRA announced that financial institutions cannot enable their clients to…

    IMF report warns of rising cryptocurrency risks and calls for regulatory action

    On Tuesday, The International Monetary Fund (IMF) issued a report on global financial stability, detailing how a spike in crypto trading could disrupt the global financial system and demanding “strengthening macroeconomic policies.” Also, the war in Ukraine is revealing the risks of crypto payment systems, the IMF said. The IMF has published the “Global Financial…

    IMF says sanctions on Russia could boost the use of crypto

    As the Russian invasion of Ukraine enters its second month, Gita Gopinath, the International Monetary Fund (IMF) official, has warned that the financial sanctions imposed on the invading country, including restrictions on its central bank, could have some wide-reaching effects on currencies. With this, the Chinese yuan and cryptocurrencies could see their adoption accelerate with…

    IMF urges El Salvador shouldn’t use Bitcoin, citing ‘large risks’

    The International Monetary Fund (IMF) urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, citing it as a significant obstacle for the nation’s efforts to get a loan from the institution. This follows El Salvador asking the IMF for a $1.3 billion loan last year, but the…

    IMF expressed the need for a global approach to crypto regulation

    The International Monetary Fund (IMF) called for a “comprehensive, consistent, and coordinated” approach to harness the benefits of crypto’s underlying technology while mitigating its risks. The fund plans to work closely with the Financial Stability Board (FSB) and other members of the international regulatory community to develop an effective regulatory approach to crypto-assets. In a…