IMF Finally Admits Bitcoin Has Evolved Into An Integral Part Of The Digital Asset Revolution, But Highlights New Risks

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IMF Finally Admits Bitcoin Has Evolved Into An Integral Part Of The Digital Asset Revolution, But Highlights New Risks

The International Monetary Fund thinks Bitcoin and cryptocurrencies have come to the fore of financial markets.Despite being an integral part of the revolution, the fund highlights key risks that the asset class poses to the economy.The IMF has been highly critical of El Salvador’s Bitcoin adoption over the last few months.

After years of downplaying the effects of Bitcoin and cryptocurrencies, the International Monetary Funds concedes that the asset class is no more on the fringes. However, it warns of several potential pitfalls that could plague the wider markets.

Kore ake he rawa taniko

I whakaatuhia e te IMF tana tuunga mo nga moni crypto ma te panui blog i te Hanuere 11 i tuhia e te Kaitātari o te Putea. E kii ana te panui ko te karaehe rawa i whakarewahia tuatahi i te tau 2009 kua piki ake ki te $1 trillion i raro iho i te 13 tau me nga miriona huri noa i te ao e whakangao ana ki a raatau.

"Ko ta maatau tātaritanga e kii ana kaore nga rawa crypto i te taha o te punaha putea," ka mea te IMF. "I runga i te ahua nui o o raatau utu me o raatau uara, ko ta raatau mahi-tahi ka tupono ka tupono ki te pumau o te putea ina koa ki nga whenua kua whanui te tango crypto."

According to the IMF, the impressive growth of cryptocurrencies has come with the unintended consequences of a “contagion across financial markets”. The IMF notes that before the pandemic, Bitcoin and Ethereum moved independently from the stock markets and showed little to no correlation. However, after the response to the central bank crisis in 2020, stocks and cryptocurrencies now appear to move in sync

Ko te ripoata a te IMF kei te haere tonu ki te whakahua i nga nekehanga o te S&P 500 me nga inenga mai i nga ohanga hou i mua i te taenga ki tenei whakatau. “For example the correlation between returns on the M<SCI emerging markets Index and Bitcoin was 0.34 in 2020-21, a 17-fold increase from the preceding years,” panuihia te panui rangitaki.

Aside from the contamination of markets, the IMF had previously warned that the use of cryptocurrencies can lead to a peculiar problem of cryptoization – causing liquidity risks and eventual economic destabilization. The IMF was one of the loudest dissenting voices against the move of El Salvador using Bitcoin rite ngawari ture.

Nga Tohutohu a te IMF

E ai ki te IMF, ko nga kawanatanga huri noa i te ao e hiahia ana ki te whakakotahi, ki te ao katoa ki te take hou o nga moni crypto. Kei te pirangi te putea he anga o te ao ka tuu ki te waahi "Aroturuki me te mohio ki nga whanaketanga tere o te rauwiringa kaiao crypto me nga raru ka hangaia e ratou."

Kua tohe te Putea kia whakawhanakehia e nga peeke pokapū a raatau momo CBDC hei aukati i te tipu haere o te whakamahi stablecoins. E kii ana ko nga CBDC te otinga ki te patai mo nga tikanga tere, iti ake, maamaa hoki mo nga utu whakawhiti-rohe.

Countries that have launched their CBDCs include China, the Bahamas, and Nigeria with others being at various stages of development.

Kuputuhi taketake: ZyCrypto