IMF

The International Monetary Fund (IMF) has suggested that El Salvador reduce government support for Bitcoin. This is a far more conciliatory attitude than previous attempts to repeal the nation’s Bitcoin law. Nevertheless, President Nayib Bukele seems committed to Bitcoinization. Bitcoin and El Salvador According to a recent report from Forbes, the International Monetary Fund (IMF) is trying a new tactic with El Salvador: if it won’t repeal Bitcoin’s status as a legal currency, it should reduce Bitcoin’s legal support. The…

The post XRP News Today: Ripple’s Innovative Partnership with the IMF to Boost Palau’s Economy appeared first on Coinpedia Fintech News A recent report on Palau’s National Government Payment Service has unveiled a significant level of collaboration between Ripple and the International Monetary Fund (IMF). This discovery was highlighted by prominent XRP community member WrathofKahneman (WoK) in a recent post on X, shedding light on Ripple’s expanding influence in global financial systems. Delve into the details below! Ripple’s Master Stroke…

On August 15, the International Monetary Fund (IMF) released a report titled “Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help.” The report calls for a significant increase in electricity taxes for crypto miners and AI data centers. The IMF argues that the proposed tax would incentivize more sustainable practices and align these industries with global carbon reduction goals. Rising Carbon Costs: IMF Targets Crypto and AI with New Levy Recommendations In its report, the IMF…

The International Monetary Fund (IMF) is in discussions with El Salvador to address the macroeconomic and financial risks associated with Bitcoin (BTC). These talks aim to create a complete plan to manage risks, ensuring El Salvador’s economy stays stable and grows while using Bitcoin as a legal tender. Fiscal Stability Focus: IMF’s Plan with El Salvador On August 6, the IMF released a statement highlighting the progress made in the ongoing negotiations. An IMF mission, led by Raphael Espinoza, engaged…

BRICS nations have been conducting discussions on developing a new currency and fostering closer financial ties among member nations. The proposed BRICS accounting unit could potentially evolve into a real currency in the event of the US Dollar’s collapse. As per a statement from a Russian IMF representative, BRICS nations are poised to propose an alternative to the US Dollar amid concerns about its weakening value, necessitating preparation within the bloc for such a scenario. Comprising Russia, India, China, Brazil,…

The post IMF Acknowledges Bitcoin’s Role in Cross-Border Financial Flows Amid Global Instability appeared first on Coinpedia Fintech News A recent report by the International Monetary Fund (IMF) has highlighted Bitcoin’s increasing role as a key financial tool, especially in regions facing economic distress or strict capital controls.  Bitcoin: Critical Tool for Economic Freedom The report, titled “A Primer on Bitcoin Cross-Border Flows,” underscores how Bitcoin has become essential for preserving wealth and enabling cross-border financial transactions amid global financial…

The International Monetary Fund wants El Salvador to change its Bitcoin laws. A loan of $1.4 billion is on the line, stirring a dicey situation for the Caribbean nation. El Salvador known for its unwavering stance on Bitcoin (BTC) has maintained its crypto policies, refusing to amend the Bitcoin law in exchange for a $1.4 billion credit from the International Monetary Fund.  This decision from El Salvador has raised discussions on lessons for Joe Biden, Olaf Scholz, and Emmanuel Macron…

Tobias Adrian – Director of Monetary and Capital Markets for the IMF – thinks crypto may still have blood left to lose. He recently warned that crypto markets may continue to decline while more coin offerings, such as stablecoins, fail like Terra. No Stablecoin is Safe Speaking in an interview with Yahoo Finance published on Wednesday, Adrian said selloffs across both crypto and equities may continue. The dropoff would be even harder in the event of a recession. “There could…

The International Monetary Fund (IMF) recently released its Global Financial Stability Report for April 2022. Covering the financial system’s resilience amidst the Russia Ukraine war, it repeats oft-cited concerns about crypto threatening financial integrity. Among these worries is that Russia, despite worldwide sanctions, could manage to monetize its energy resources by mining Bitcoin. Crypto: A Double-Edged Sword As claimed in the report released today, cryptocurrencies could “undermine domestic policy objectives” as they gain more widespread use. For example, crypto asset…