{"id":80698,"date":"2023-06-23T18:26:45","date_gmt":"2023-06-23T15:26:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80698"},"modified":"2025-09-11T18:31:51","modified_gmt":"2025-09-11T15:31:51","slug":"imf-questions-the-case-for-banning-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/imf-questions-the-case-for-banning-cryptocurrencies\/","title":{"rendered":"IMF questions the case for banning cryptocurrencies"},"content":{"rendered":"<p>Prohibiting cryptocurrencies may not be the best way to reduce the risks associated with them. To this conclusion<a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2023\/06\/22\/cf-interest-in-cb-digital-currencies-picks-up-in-latam-the-caribbean-while-crypto-use-varies\"> \u043f\u0440\u0438\u0448\u043b\u0438<\/a> IMF experts <span data-descr=\"International Monetary Fund\" class=\"old_tooltip\">\u041c\u0412\u0424<\/span>.<\/p>\n<p>In February 2023, the head of the organisation Kristalina Georgieva <a href=\"https:\/\/forklog.com\/en\/news\/imf-backs-regulating-cryptocurrencies-rather-than-banning-them\">did not rule out a ban<\/a> on digital assets amid higher risks to financial stability. According to her, a more acceptable option was the regulation of cryptocurrencies.<\/p>\n<p>In a fresh IMF staff document, analysts recommended that countries focus on removing factors that stimulate demand for this asset class, as well as on meeting the needs for digital payments.<\/p>\n<p>They also proposed increasing transparency by including crypto transactions in national statistics.<\/p>\n<p>Banning digital assets may &#8216;prove ineffective in the long run&#8217;, hindering countries from obtaining the benefits associated with them, the experts noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>With the right design <\/em><a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\"><em>CBDC<\/em><\/a><em> can enhance the usability, resilience and efficiency of payment systems and expand access to financial services<\/em>, the article says.<\/p>\n<\/blockquote>\n<p>The IMF <a href=\"https:\/\/forklog.com\/en\/news\/imf-to-develop-platform-for-national-digital-currencies\">is working<\/a> on a platform for cross-border operations with national digital currencies.<\/p>\n<p>In May, the organization released a report on the first CBDC in Africa \u2014 <a href=\"https:\/\/cointelegraph.com\/news\/imf-sees-room-for-enaira-improvement-in-first-year-assessment\">\u043d\u0438\u0433\u0435\u0440\u0438\u0439\u0441\u043a\u043e\u0439 eNaira<\/a>. The IMF <a href=\"https:\/\/forklog.com\/en\/news\/imf-applauds-nigerias-cbdc\">praised<\/a> the authorities&#8217; work.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banning cryptocurrencies may not be the best way to reduce the risks associated with them. IMF experts concluded as much.<\/p>\n","protected":false},"author":1,"featured_media":80699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1269,204,36],"class_list":["post-80698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-cryptocurrencies","tag-imf","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80698"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80698\/revisions"}],"predecessor-version":[{"id":80700,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80698\/revisions\/80700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80699"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}