Crypto as Legal Tender is Inadvisable Shortcut: IMF
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Attempting to make cryptocurrencies a national currency is rather an inadvisable shortcut than useful innovation. The International Monetary Fund (IMF) has published a new report on the issue of global cryptocurrency adoption. According to the fund, in most cases risks and costs associated with cryptocurrencies outweigh their potential benefits.

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Tobias Adrian, Director of the IMF's Monetary and Capital Markets Department, and Rhoda Weeks-Brown, Director of the IMF's Legal Department, admit that a cryptocurrency might "catch on as a vehicle for unbanked people to make payments." However, Internet access and technology needed to transfer cryptocurrencies still remains scarce in many countries, the experts note.

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