Post
Topic
Board Economics
Re: IMF chief is in support of crypto. Keep holding
by
magneto
on 18/11/2018, 10:42:25 UTC
The IMF chief has released a statement showing her strong support for crypto. If you are in crypto today, count yourself a blessing.

A link to her statement.
https://dailyhodl.com/2018/11/09/imf-chief-crypto-should-not-be-dismissed-can-benefit-the-public-with-fast-and-cheaper-transactions/

I don't really see any evidence that the IMF is showing "strong support" per se, all they are saying is that regulation is needed and that there is some potential in crypto that countries need to realise.

It's not something that is overly positive news or something that will have an immediate impact, or any real impact on regulations at all.

But it is nice to see that bitcoin's potential is being acknowledged by this institution. The report is completely spot on with the fact that bitcoin transactions are global, and instantaneous which is something that banks cannot offer. Now, I don't think that in the future they'll show the same support for decentralised cryptos due to the fact that they are after all, a centralised institution. But I think that's where the potential is. Global, decentralised cryptocurrencies. If governments around the world start regulating these cryptos positively right now, they will reap the rewards of increased tax revenue and investments in the future for sure, but unfortunately this is not happening in the majority of states.