IMF Board ‘Generally Agreed’ Crypto Shouldn’t Be Legal Tender

“Directors agreed that strict bans are not the first-best option, but that targeted restrictions could apply” to limit crypto risks, though some board members think “outright bans should not be ruled out,” the statement continued. “The growing adoption of crypto assets in some countries, the extra-territorial nature of crypto assets and its providers, as well as the increasing interlinkages with the financial system, motivate the need for a comprehensive, consistent, and coordinated response.”