IMF named problems related to cryptocurrencies

The IMF sees serious issues in the application of cryptocurrencies. The Foundation named the concerns to be paid attention to. Regulators around the globe are not keeping the rate of the rapidly growing cryptocurrency commerce. Companies carrying out transactions with cryptocurrencies do not have appropriate functioning methods and rules for reducing risks. The IMF also believes that cryptocurrencies are often used to dedicate fraudulent activities and pay for terrorist transactions. According to the latest statistics, at the end of September 2021, the value of all cryptocurrency assets in the globe was more than $2 trillion. In relation to the beginning of 2020, the indicator has grown 10 times. The IMF also noted the low-reliability amount of cryptocurrencies for both people and businesses. Plus, young and inexperienced investors often succumb to advertisements that promise big returns. They buy cryptocurrency with credit funds, which regularly has pessimistic consequences. The IMF believes that it is necessary to develop regulations for working with cryptocurrencies, which will be valid in all countries of the world.

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Arseny Kudrin

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