After El Salvador warning, IMF says accepting BTC as national currency is “a step too far”

The International Monetary Fund (IMF) published a warning that putting Bitcoin (BTC) or any other crypto on par with a national currency presents serious risks to macro-financial stability.

In their official blog post, written by monetary and capital markets department director Tobias Adrian and legal department head Rhoda Weeks-Brown, the IMF describes adopting cryptos as national currencies as “a step too far” and “an inadvisable shortcut,” while recognizing the “advantages of their underlying technologies.”

Some of the most pressing threats of the widespread Bitcoin adoption outlined in the blog post include crypto’s money laundering, financing of terrorism and environmental implications.

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