The International Monetary Fund (IMF) is known to have a critical view of cryptocurrencies. While it recognizes the opportunities and possibilities made possible by Blockchain technology, the IMF has always viewed cryptocurrencies themselves with skepticism.
This skepticism is slowly but surely giving way to reality.
It sees this as a threat to the stability of the financial system and repeatedly points to the high volatility of Bitcoin and other cryptocurrencies. Cryptocurrencies, it argues, complicate state capital controls and promote money laundering and terrorism.
The organization therefore repeatedly recommends globally uniform rules for how countries deal with cryptocurrencies. Recently, El Salvador even had to abolish Bitcoin as its official parallel currency under pressure from the IMF in order to obtain a loan.
Given this negative attitude, it is all the more surprising that the IMF has now included cryptocurrencies in its financial reporting. As if that weren’t enough, the IMF describes Bitcoin as an asset and digital gold.
Bitcoin also convinces its critics
The IMF now considers other cryptocurrencies, such as Solana, to be a form of equity. Stablecoins are referred to as financial instruments. The IMF considers mining, like staking, a service.
This astonishing development demonstrates once again how hard Bitcoin has fought for its place in the world of assets. The increasingly crypto-friendly attitude of the new US administration is likely to have an impact here as well.
This milestone in recognition is likely to have a positive impact on other projects in the market as well. These tend to quickly embrace new economic trends and integrate them into their tokens. This is currently evident in the new meme coin Mind of Pepe, which relies entirely on artificial intelligence and its ability to improve itself.
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