The International Monetary Fund (IMF) reveals the dangers of cryptocurrency

[haryatiposton01]

Washington DC - World financial institution, International Monetary Fund (IMF) is concerned about the existence of digital currency or cryptocurrency.

IMF, Tobias Adrian, IMF Advisor and Director of the Monetary and Capital Markets Department, said cryptocurrency is an existing requirement and is beginning to color the financial system worldwide.

"Some of the technology behind crypto assets can make financial market infrastructure more like a more efficient payment system," he said in his presentation at the IMF building, Washington DC, Wednesday (18/4/2018).


However, not all things related to cryptocurrency are fun. Because, according to Adrian, at the same time cryptocurrency save a negative risk to the financial system itself.

How not, with its digital asset form, cryptocurrency is easily misused for financial system crimes such as money laundering crimes.

In addition, the absence of a clear system, makes cryptocurrency vulnerable to damage that ultimately harms those who use this instrument.


"Crypto assets have potential for financial crime (fraud), security breaches and operational failures," he explained.

To that end, Adrian said, governments and policymakers in various countries should begin to set clear policies related to cryptocurrency so that potential problems that will arise in the future can be prevented.

What is your response?

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[Noobaru]

Hey, do you maybe have a link to this article? I can say I agree to some degree. Definitely, cryptocurrencies are changing the monetary system as we know it. We all know that digital money is inevitable in the future. But do the pros really outweigh the cons. Fraud, hackers, crime, etc. Sure, these are the problems that need to be addressed. And they are very hard to prevent, harder than with the physical money counterpart (or digital like PayPal for that matter). But, in my opinion, the cons still prevail. Being the sole owner of my assets and not along with my bank, state or any other entity whatsoever, really did it for me from the start.

[bitcoinvestor]

Not endanger but threathen the old financial system. Financial system that old whale live in prosperity will end because of cryptocurrency that;s why banks and IMF don't like this. This is the end of traditional banking system. banks should adapt to blockchain tech. Never worried about IMF statetment becuase IMF is sucker to poor countries with high interests. it is time for poor countries to hold ICOs to finance their development. Fuck IMF.

[Teraboy]

Washington DC - World financial institution, International Monetary Fund (IMF) is concerned about the existence of digital currency or cryptocurrency.

IMF, Tobias Adrian, IMF Advisor and Director of the Monetary and Capital Markets Department, said cryptocurrency is an existing requirement and is beginning to color the financial system worldwide.

"Some of the technology behind crypto assets can make financial market infrastructure more like a more efficient payment system," he said in his presentation at the IMF building, Washington DC, Wednesday (18/4/2018).


However, not all things related to cryptocurrency are fun. Because, according to Adrian, at the same time cryptocurrency save a negative risk to the financial system itself.

How not, with its digital asset form, cryptocurrency is easily misused for financial system crimes such as money laundering crimes.

In addition, the absence of a clear system, makes cryptocurrency vulnerable to damage that ultimately harms those who use this instrument.


"Crypto assets have potential for financial crime (fraud), security breaches and operational failures," he explained.

To that end, Adrian said, governments and policymakers in various countries should begin to set clear policies related to cryptocurrency so that potential problems that will arise in the future can be prevented.

What is your response?

Lol this is another joke from IMF, every investment place always having a risk if you do not want to get a risk for your amount and then just keep them all in your little wallet.


Imf clearly always try to make a joke anytime. Everyone had a deal with crypto and they already know about the risk behind that.


Everyone has a brain. And it's to be used to think better and better.

[haryatiposton01]

Hey, do you maybe have a link to this article? I can say I agree to some degree. Definitely, cryptocurrencies are changing the monetary system as we know it. We all know that digital money is inevitable in the future. But do the pros really outweigh the cons. Fraud, hackers, crime, etc. Sure, these are the problems that need to be addressed. And they are very hard to prevent, harder than with the physical money counterpart (or digital like PayPal for that matter). But, in my opinion, the cons still prevail. Being the sole owner of my assets and not along with my bank, state or any other entity whatsoever, really did it for me from the start.

of course i have this news link.you can read it

1.https://bitcoinchaser.com/news/imf-better-cryptocurrency-policies
2.http://www.indonesia-news.tk/2018/04/imf-reveals-cryptocurrency-hazard.html?m=1

[pranazzs]

Therefore all crypto exchange users must be required to verify their data. and also with ICOs now required to use KYC.
so, do not worry for money laundering issues.
let's just say the IMF is making FUD news.

[haryatiposton01]

Not endanger but threathen the old financial system. Financial system that old whale live in prosperity will end because of cryptocurrency that;s why banks and IMF don't like this. This is the end of traditional banking system. banks should adapt to blockchain tech. Never worried about IMF statetment becuase IMF is sucker to poor countries with high interests. it is time for poor countries to hold ICOs to finance their development. Fuck IMF.

I agree with you. In the heinous violations of the people's right to control their lives, they (the World Bank and the IMF) trample upon countless other sovereignties of the state, especially through the conditioning / submission of conditions they impose on those countries. The submission of these conditions impoverishes the people, increases inequality, hands the state into the hands of multinational corporations, and changes the laws of the country (usually reforming labor laws, mining and forestry) to serve foreign creditors and investors.

[Spaffin]

In fact, the International Monetary Fund says that it's time to regulate the crypto currency and develop a common approach to such regulation. Yes, this process has matured and it is inevitable. Only how loyal to the crypto currency will be such a regulatory process, that's the question. I see that the latest news from the countries of the European Union and, in general, the governing bodies of this union is quite encouraging. Moreover, almost all recognize that the crypto currency is very positive in the financial system. In this case, of course, it has its own peculiarities and shortcomings. We can say that this year for the existence of the crypto currency will be decisive.

[MMysterious]

I am not really completely against cryptocurrency regulations in order to protect investors. But this IMF statement is just like saying that they want decentralized currencies to be dead because their old corrupt and rigged system is in danger of getting replaced in the future.

[kiw_91]

In some context, they are correct in some way. However, looking at IMF, they are afraid of cryptocurrency and considers them as a threat. Thus the negative statement. The IMF have little to no control of the crypto marketspace and they have to power in it. They are threatened that when crypto is used globally, they will be considered as obsolete. Thats my logic.

[iram1011]

I would say there concern is justified. We have some completely anonymous cryptocurrencies in the market that are being used excessively for money laundering and illegal activities. But weren't these activities taking place before cryptocurrencies? What can be more anonymous than cash. Madket is quite small and hence prone to excessive speculation that in turn cause high volatility. But it's been only 10 years since bitcoin came in existence. Market needs time to mature. Cryptocurrencies is a not like traditional financial system and give freedom from traditional monetary system. It's a revolution but yet in early stage.

[Gwyn]

Each asset has its advantages and disadvantages. It can not enlarge its shortcomings and negate it. I hope the password world can be truly incorporated into the monetary system.

[jinxing]

all investments certainly have risks, but I think there is some truth to what is said by Tobias adrian as IMF advisor and director of the monetary and capital markets department. governments and policymakers in different countries should begin to establish clear policies about cryptocurency to prevent potential problems that will arise in the future. We do not think negatively, think fositif in order to produce something good.

[JJriver]

This is one of the sides of the coin, and the other is lighter it is free earnings for investors without taxes, plus anonymous. And it is the Crypto-currencies that can improve the economy of the country and make life easier for the population. Therefore, whatever the dark side, namely fraud, the government needs to adopt this technology at the state level.

[AlexaSonda]

Frankly they have opened their own ugliness, they are afraid of losing his business that no poor country will borrow funds to them. This is really sad, with their high loan interest sucking the finances or the natural wealth of a country like dracula. I wonder, do they never think that there are many shortcomings in the old financial system? Corruption occurs wherever, money laundering, fraud and other criminal acts. Not in crypto and blockchain all its made more instant and very transparent.

[thepo1m]

IMF, what do people think they will say, all they would do is to demarket crypto which is a big threat to their exitence. I saw a report this week that says, just 1% of BTC is used for illegal things, can you compare this to USD, which is the medium for drug transaction. I don't care about what IMF say

[$Darkloard$]

"The Australian Securities Exchange already said it plans to use the DLT to manage clearing and settlement of securities transactions," she continues. But, "before crypto assets can significantly and seriously transform financial activities, they need to earn the trust and support of consumers and authorities," the IMF head noted.