IMF is Concerned About Countries Legalizing Bitcoin

The IMF is concerned about countries legalizing Bitcoin. The IMF (International Monetary Fund) does not take kindly to the situation.

In a blog post published on August 29, the IMF (International Monetary Fund) expressed its concern over Bitcoin and other cryptocurrencies becoming a country's legal currency. The article included the following statements: https://twitter.com/IMFNews/status/1431799965521625090?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1431799965521625090%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmuhabbit.com%2Fimf-btcyi-yasal-para-birimi-yapan-ulkeler-icin-endiseli%2F "Cryptocurrencies such as Bitcoin come with significant risks. Converting cryptocurrencies to legal currency or equivalent to national currency is not recommended." Judging by the statements made, the IMF seems worried about El Salvador, which accepts Bitcoin as legal currency, or countries that want to make cryptocurrencies legal currency. According to the IMF, countries do not think well about the impact of such operations on finance around the world. As interest in cryptocurrencies like Bitcoin grew exponentially, the first cryptocurrency ATM was installed in Honduras in South America. However, Cuba was the last country to recognize and regulate cryptocurrencies such as Bitcoin. While Cuba recognizes cryptocurrencies, it could ease the island's US embargo banning international trade and remittances.