Does the IMF have a hidden script for El Salvador’s Bitcoin play?
What if El Salvador’s Bitcoin experiment succeeds? Is that what the IMF really fears? Go to Source Powered by WPeMatico
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El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender
El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation … Read more
Salvadoran President Nayib Bukele Expects Bitcoin to Experience a ‘Gigantic Price Increase’
El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s millionaires. Salvadoran President Says Best Time to Buy Bitcoin ‘Is When the Price Is Down’ … Read more
El Salvador president predicts ‘gigantic price increase’ for Bitcoin
There is not enough Bitcoin for global millionaires if each of them wants to own one, Bukele said. Go to Source Powered by WPeMatico
IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits
The International Monetary Fund (IMF) has told El Salvador that the costs of implementing the country’s Bitcoin law, which makes the cryptocurrency legal tender, exceed the potential benefits. The IMF has also urged El Salvador to dissolve the “Fidebitcoin” trust fund and start charging fees for services provided by the government’s Chivo digital wallet. IMF’s … Read more
IMF urges El Salvador to remove Bitcoin’s status as legal tender
According to the IMF’s executive board, the use of Bitcoin as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection. Go to Source Powered by WPeMatico
IMF Urges El Salvador to Drop Bitcoin Tender Law, Executive Board Report criticizes BTC Bonds, Chivo Wallet
The International Monetary Fund (IMF) has been very critical of cryptocurrencies and according to a report on Tuesday, the IMF’s board has “urged” El Salvador to discontinue its bitcoin tender status. A few members of the IMF’s board said the country’s decision to leverage bitcoin within its financial system could pose risks. IMF Report Attempts … Read more
Law Decoded: First-mover advantage in a CBDC conversation, Jan. 10–17
Strong framing move by U.S. Representative Tom Emmer and a looming threat of another crypto ban in Asia: a digest of last week’s top crypto policy stories is here. Go to Source Powered by WPeMatico
IMF: Crypto Could Soon Pose Risks to Countries’ Financial Stability
Economists at the International Monetary Fund (IMF) say that “crypto assets are no longer on the fringe of the financial system.” In addition, they “could soon pose risks to financial stability especially in countries with widespread crypto adoption.” ‘Our Analysis Suggests Crypto Assets Are No Longer on the Fringe of the Financial System’ The International … Read more
Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s
The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets. Go to Source Powered by WPeMatico