IMF issues veiled warning against El Salvador’s Bitcoin law By Cointelegraph – Investing.com
- Date: 27-Jul-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
IMF issues veiled warning against El Salvador’s Bitcoin law By Cointelegraph – Investing.com
The International Monetary Fund is warning that some of the consequences of a country adopting as a national currency "could be dire."
According to IMF marketing department financial counsellor and director Tobias Adrian and legal department general counsel and director Rhoda Weeks-Brown, a cryptocurrency like Bitcoin (BTC) may catch on in countries without stable inflation and exchange rates, and provide unbanked people with the means to make payments. However, the cost to an economy could be significant.
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