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IMF Opposes Crypto as Legal Tender Inner City Press Is Told But Not As Investment, Arg & CIV

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, May 11 –   When the International Monetary Fund held its media briefing on May 11, 2023, Inner City Press posed questions including "on Argentina, crypto and the IMF, what is the IMF's response to those who say the country's recent ban on digital assets is an effect of / condition imposed by the IMF?"

It asked about El Salvador and other IMF country program negotiations. 

  Spokesperson Julie Kozack explained that the IMF opposes cryptocurrency as a legal tender - as in El Salvador - it view digital assets as investments differently. Informal video here.

Inner City Press has submitted a follow up question, and later in the day received this from IMF spokesperson: "Can be attributed to IMF spokesperson.     On crypto assets, although they have some purported benefits, they can pose macro-financial risks. To strike a balance between reaping the benefits of innovation and guarding against risks, a globally consistent, coordinated, and comprehensive regulatory framework is vital. However, crypto assets should not be granted official currency or legal tender status in order to safeguard monetary sovereignty and stability."

   As to the US, the IMF was asked about the regional bank failures, the debt ceiling, the 14th Amendment and even the trillion dollar coin. Watch this site. 


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