RATE Group | IMF Issues Stark Warning Over Bitcoin And Crypto ‘Rapid’ Growth
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IMF Issues Stark Warning Over Bitcoin And Crypto ‘Rapid’ Growth

09 Oct IMF Issues Stark Warning Over Bitcoin And Crypto ‘Rapid’ Growth

Posted at 08:02h in Bitcoin News by

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The International Monetary Fund (IMF) has warned the “rapid growth” of bitcoin and cryptocurrency assets could create “new vulnerabilities in the international financial system,” as the world’s banks adjust to the recent bitcoin and blockchain boom.

Bitcoin and cryptocurrencies, including Ripple Lab’s XRP token, ethereum, litecoin, EOS, and stellar, are being examined by the traditional financial system to gauge how they might be integrated as both investment tools and ways to move money across borders more quickly and cheaply.

Excitement around how bitcoin and cryptocurrency technologies, based on the blockchain distributed ledger, has propelled the price of many major cryptocurrencies to stratospheric highs over the last 12 months. Last year, the bitcoin price ballooned from less than $1,000 at the beginning of 2017 to almost $20,000 in December.

The bitcoin price has since fallen sharply back, currently trading at around $6,500, and dragging many of the biggest…

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