The IMF has once again demonstrated that it is afraid of crypto revolution
Reality is slightly different, experts recall.
A new report by the International Monetary Fund (IMF) states that the rapid growth of the Bitcoin and other cryptos will lead to "new vulnerabilities in the international financial system" amid the efforts of the banking sector to adapt to new market conditions. According to the document, the current situation may expose the banking sector to instability, cyber breakthroughs and attacks on critical financial infrastructure are an additional source of risk because they can undermine cross-border payment systems and break the normal flow of goods and services.
"IMF publishes many reports of" obvious "hazards from the entry of DLT (distributed-ledger technology) technology. His director, Christine Lagarde, also argues that the increased use of crypto will lead to illegal acts committed by criminals, saying: "This is a visible domain in which we need international regulation and adequate leadership. It is obvious that we are talking about a very serious dark activity in crypto. " But it has already been established that criminals still prefer ordinary money to crypto, and the entire crypto industry is a drop in the sea of ongoing financial scandals related to traditional currencies, "said Daniel O'Keefe.
image source - Instagram
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