IMF: Cryptocurrencies Will Make World Economy Vulnerable
Cryptocurrencies can create “new vulnerabilities” of world financial system. It is said in International Monetary Fund’s October report World Economic Outlook.
Cybersecurity breaches and cyberattacks on critical financial infrastructure represent an additional source of risk because they could undermine cross-border payment systems and disrupt the flow of goods and services, says the document.
It is also noted in the report that digital assets will become a risk to economy if their popularity keeps growing rapidly.
The head of IMF Christine Lagarde claimed that rapid evolution of financial system requires vigilant regulators and supervisors.
Let us note that IMF expressed another point of view in May. The International Monetary Fund claimed that the cryptocurrencies are not a risk to global economic stability.