IMF Warns Of Rising Cryptocurrency Risks

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IMF warns of rising cryptocurrency risks in emerging markets.
A spike in cryptocurrency trading in emerging markets could imperil the global financial system, the International Monetary Fund warned Tuesday in a report on global financial stability.

Meanwhile, the war in Ukraine is revealing the risks of crypto payment systems, the IMF found.

Repercussions of the Russian invasion of Ukraine and ensuing sanctions continue to reverberate globally and will test the resilience of the financial system through various channels.

Including acceleration of crypto nation in emerging markets, direct and indirect exposures of banks and nonbanks, and possible cyber-related events,” the international body said in the report.

The IMF highlights the increased use of cryptocurrencies in emerging markets since the start of the pandemic.

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