IMF warns of increased use of cryptocurrencies in Russia
The organization spoke about the situation in the country, which has been economically tense since the beginning of the conflict with Ukraine and the possibility of the growth of cryptocurrencies in the country
The International Monetary Fund (IMF) warned about the increase in the use of cryptocurrencies in Russia, due to the economic restrictions that have arisen due to the conflict with Ukraine.
According to the agency, the restrictions they have applied against the Russians could unleash far-reaching effects on currencies in general.
IMF first deputy director Gita Gopinath said “the dollar would remain the world’s leading currency even in such a scenario, but fragmentation to a smaller level is certainly quite possible.”
The current situation could encourage the adoption of currencies other than the US dollar, including cryptocurrencies ranging from stablecoins to central bank digital currencies (CBDCs) around the world.
On the other hand, the body spoke about the need to implement a series of regulations and standards for digital assets. “All of these will receive even more attention after recent episodes, which brings us to the question of international regulation. There is a void to fill.”
Notably, Gopinath is not opposed to cryptocurrencies, as she said in December of last year, but she has emphasized that regulating crypto assets is essential.
K. Tovar
Source: DiarioBitcoin
