IMF: "It's Time to Discuss Bitcoin Globally"

Business » FINANCE | January 22, 2018, Monday // 13:02| Views: | Comments: 0
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Bulgaria: IMF: "It's Time to Discuss Bitcoin Globally" Source: Pixabay

The International Monetary Fund is concerned about the excessive volatility of the bitcoin, as well as its popularity among criminals and terrorists. Representatives of the organization are calling for an international talk on encrypted data to be launched as soon as possible.

An event of this kind could be the G20 meeting in March. Last year bitcoin rose by 1500%, but dropped sharply earlier this year. According to IMF representative Gerry Rice, such jumps are unfavorable to investors in the crypto market. The IMF recognizes that cryptocells can benefit, for example, as a more efficient means of payment. But at the same time, they are often used for money laundering, terrorist financing and fraud. According to Rice, regulators of all countries need to unite and stop ignoring the crypto market.

Everything should be done internationally. Germany and France are ready for such a discussion and both countries intend to initiate the G20 debate in Argentina. At the end of last year, Christine Lagarde, head of the IMF, said the emergence of the cryptocurrency is a sign of global financial market changes that can no longer be ignored.

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