The International Monetary Fund published a report detailing how Bitcoin disrupts the world order, enables sovereignty amid sanctions, and demands regulatory action.
The International Monetary Fund published a report detailing how Bitcoin disrupts the world order, enables sovereignty amid sanctions, and demands regulatory action.
- The IMF recently published the Global Financial Stability Report that details a great deal involving the state of the global economy.
- Subjects discussed in the report include: bitcoin as a means to avoid sanctions, the fragmentation of the old payments and banking infrastructure, and a global call to action for the regulation and control of assets like bitcoin to prevent further systemic degradation.
- “The IMF says that "strengthening macroeconomic policies is necessary" to fend off "cryptoization risks.”
The International Monetary Fund (IMF) recently published the “Global Financial Stability Report”[1] which discussed a myriad of subjects including: Bitcoin and other cryptocurrencies disrupting the payments system, bitcoin being used to evade sanctions, inflation, Russia’s invasion of Ukraine, banking infrastructure, central bank challenges of maintaining credibility, energy security, and many other topics.
One clear point of concern for the IMF is the reverberations felt across the world from the invasion of Ukraine. The report states that through poor market liquidity, counterparty risks, funding strains and the overexposure of financial institutions being strangled throughout the invasion, these conditions led to “cryptoization,” or what many Bitcoiners would refer to as hyperbitcoinization.
The result of the invasion led to an influx of bitcoin[2] and other cryptocurrencies flooding into the hands of those that needed it most. Many companies have taken their own initiative to further the amount of bitcoin donations, such as Bitcoin Magazine[3]. Ukrainian reliance on outside funding has shown the fragility of the current monetary and
