| 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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