IMF Warns Any Countries Looking to Adopt Crypto as National Currency
Updated: Oct 21
Recently, the International Monetary Fund (IMF) warned countries looking to adopt Bitcoin or any other cryptocurrency as their national currency, saying: be careful; things could get messy.
The IMF Managing Director, Kristalina Georgieva, stated that nations planning on switching their current legal tender to cryptocurrency are not advisable due to its extreme volatility.
This announcement came after countries like the Central African Republic and El Salvador officially stated they would use Bitcoin alongside their existing currency as legal tender.
The goal here is these countries are looking for new ways to support and prop up their economies in hopes of attracting Bitcoin users to their countries, leading to new business development and tourism.
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