Crypto Market Collapse Does Not Affect Global Financial Stability The International Monetary Fund (IMF) said on Tuesday.
The global economy is suffering from high inflation and could enter a second recession in just two years. According to the International Monetary Fund (IMF), due to the impact of the Ukraine war and the COVID-19 lockdown. However, markets like bitcoin do not appear to be a concern, the report said.
Despite recent collapses such as terraUSD stablecoin and fund Three Arrows Capital, the turmoil has prompted some regulators to voice more control over the burgeoning market.
“The flow into the broader financial system is still limited,” the IMF said, citing a “massive sell-off leading to huge losses” for crypto investors.
In a report in June European Systemic Risk Board Says crypto’s growing popularity could mean a wider threat in the financial markets. The IMF has called for more control over the sector. and has warned El Salvador to stop using bitcoin as legal money.
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