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IMF against making crypto legal tender, issues action plan

The IMF is arguing that countries should not give cryptocurrencies such as bitcoin legal tender status

The International Monetary Fund is recommending that countries not give cryptocurrencies like Bitcoin status as legal tender.

The IMF made that point as a part of a nine-point action plan for how countries should treat crypto assets.

The financial agency’s Executive Board provided guidance to IMF member countries in the discussion of a paper, “Elements of Effective Policies for Crypto Assets.”

The IMF said action is necessary after the collapse of a several crypto exchanges and assets over the last couple of years.

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