The IMF has spoken out against the use of cryptocurrencies as a means of payment

The Executive Committee of the International Monetary Fund commented on the initiative of experts who analyzed the long-term prospects for digital currencies.

Like other international structures, the IMF wants to establish control over the innovative instrument. In addition, the fund is categorically opposed to allowing the use of virtual currencies as a means of payment.

The report of the IMF experts says:

Protect financial sovereignty and stability by strengthening monetary policy and do not grant cryptocurrencies legal tender status.

The Executive Board supported the position of the fund’s analysts and encouraged them to continue to study the digital currency market. The IMF Committee also believes that bitcoin and other virtual currencies cannot be used when paying for goods and services.

The IMF has repeatedly called on El Salvador to repeal the bitcoin law. The fund believes that the legalization of BTC creates risks for the stability of the financial sector.

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