Bitcoin BTC, Ethereum and other major cryptocurrencies have exploded in recent weeks as markets prepare for a $15 trillion earthquake.
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Bitcoin’s popularity has risen as traders ditched smaller cryptocurrencies in favor of Bitcoin and its closest rival Ethereum following a U.S. crackdown that some believe is part of a plan to disrupt the market. Prices have nearly doubled this year (amid growing concern that the investment “window” is closing). .
With the world’s largest asset manager leading a surprise Wall Street assault on Bitcoin and cryptocurrencies, the International Monetary Fund (IMF) has suddenly softened its previous stance on cryptocurrency bans, calling it “ineffective.” It might be,” he warned.
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“Some countries have outright banned cryptoassets because of the risks, but this approach may not be effective in the long run,” said three senior IMF economists. I have written In a blog post discussing the introduction of Central Bank Digital Currencies (CBDC) and cryptocurrency regulation.
China will crack down on Bitcoin, Ethereum and other cryptocurrencies in 2021, expelling bitcoin and cryptocurrency miners out of the country, and temporarily closing the market before cryptocurrency companies establish themselves in the U.S. and around the world. collapsed.
The IMF has clashed with El Salvador since it granted bitcoin legal tender status in 2021, citing “potential risks to financial integrity and stability, fiscal sustainability and consumer protection. ” warns.
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Earlier this year, the IMF Said it is “totally [crypto] The ban should not be eliminated,” he said, calling for a “coordinated response” to the rise of cryptocurrencies, which he warned could undermine the global monetary system.
The IMF’s softening stance on crypto wiped out $2 trillion in value and signaled the U.S. embarking on a crypto crackdown following the 2022 market downturn that culminated in the collapse of major exchange FTX. I received it.
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