The IMF is launching a call about the dangers of the crypto-currency

The international monetary Fund (IMF) has launched an international call, requiring coordination of large-scale on crypto-currencies. Officials want to caution generalized from the risks related to the increase in the price of digital currencies.

Caution

It is the spokesperson for the IMF, Gerry Rice, who came out of silence this Thursday, in Washington. He announced that measures must absolutely be taken at international level to avoid that the Bitcoin in particular, became a true phenomenon of investment. In fact, he recalled that the risks were extremely important to investors. The fact that more and more individuals embark on the adventure of Bitcoin concerned the financial analysts : “When asset prices rise rapidly, the risk can accumulate, especially if the participants in the market borrow the money to buy.

A serious concern all over the world

It is essential that people are aware of the risks when they invest in the crypto-currency. The IMF is not the only organisation to deliver this address. In fact, Steven Munchin, the secretary of the u.s. Treasury, had called for caution a week ago. Similarly, the French minister Bruno Le Maire requested an international cooperation and a desire to incorporate a discussion at the G20 on the digital currency. The objective is to regulate the assets in order to limit the risks which can be considerable. And it is also in this sense that the international monetary Fund has recommended that an international coordination on the digital currency.

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Decisions at the international level

According to these officials, it must not be forgotten that the Bitcoin and other crypto-currencies may present considerable advantages : ease of payment, for example, is a major plus for digital currencies. However, the dangers of financial losses are ubiquitous and can be very serious for an individual. Gerry Rice also reiterated that the crypto-currencies could be used by criminals and that it should not be forgotten : “The currency cryptography can present considerable risks as potential vectors of money laundering, terrorism financing, tax evasion and fraud “.

The IMF has called for the greatest caution. But his appeal will he heard ?

Source : BloomBerg News