Change in IMF stance towards crypto as BTC/ETH double in price in 2023
Price of Bitcoin has doubled in comparison to last year as traders bailed out on smaller crypto currencies in favor of going for big guns such as bitcoin and Ethereum because of US crackdown on crypto which many believe to be a conspiracy to destroy the crypto market.
IMF warned that crack down on crypto market 'may not be effective' which surprisingly is a softened stance as compared to its previous stance on crypto market.
Photo by Alesia Kozik: https://www.pexels.com/photo/gold-coins-on-the-laptop-6770845/
"While a few countries have completely banned crypto assets given their risks, this approach may not be effective in the long run," three senior IMF economists wrote in a blog post discussing central bank digital currency (CBDC) adoption and crypto regulation.
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