The IMF released a tough report on cryptocurrencies on Tuesday. It is part of the Global Financial Stability Report.
According to the International Monetary Fund, as the adoption and circulation of cryptocurrencies increases, the risk and impact on the world economy do as well.
The entity spoke out on the risks derived from the boom in cryptocurrency trading and the proliferation of digital currencies. These would be “contained” for the moment, but should not be lost sight of.
The IMF highlights the need for greater regulation, given that cryptocurrencies have little or no inadequate regulations and deficiencies in their structure. For these reasons, if they are maintained in this way, the entity warns that they can threaten global financial stability.
The IMF warns that cryptocurrencies can threaten financial stability without regulation. The lack of regulations and the place for tax evasion could lead to effects on the fiscal policies of the countries.
“Challenges posed by the crypto ecosystem include operational and financial integrity risks from crypto asset providers, investor protection risks for crypto assets and DeFi, and inadequate reserves and disclosure for some stablecoins,”
In this sense, reinforcing the criticism they have already made of El Salvador, the adoption of cryptocurrencies such as Bitcoin, as legal tender, could lead to destabilizing capital flows.
It is speculated that by the beginning of November, from the United States, a regulatory proposal will be issued to promote transparency for stablecoins.
BTC is suggested to wait about $ 56,500 to enter for new buys..
ETH wait over $ 3500 to add buy.