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IMF issues cryptocurrency warning
Crypto assets should not be granted the status of official currency or legal tender, the monetary fund has argued The International Monetary Fund (IMF) has strongly recommended against granting cryptocurrencies the status of official currency or legal tender, citing the need for stringent regulations.  In a report issued this month, the IMF argued that a comprehensive legal foundation – that would address both private law and financial law aspects – is essential to effectively regulating crypto. It said that last year’s failures of the crypto trading platform FTX and the stablecoin Terra Luna highlighted the urge

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