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: IMF warns ‘cryptoization’ of emerging economies could threaten growth, financial stability


The International Monetary Fund is warning that the growing popularity of cryptocurrency in emerging market economies poses a threat to their government’s ability to implement effective economic policy, while threatening financial stability in economies at every stage of development. “Widespread and rapid adoption” of cryptocurrencies, like bitcoin
and ether
in emerging markets “can pose significant challenges” when “residents start using crypto assets instead of the local currency,” IMF researchers Dimitris Drakopoulos, Fabio Natalucci and Evan Papageorgiou wrote in a blog post accompanying a new financial stability report on crypto assets, published Friday.

The IMF researchers …

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