a framework of nine policy principles that addressed macrofinancial, legal and regulatory, and international coordination issues.
The proposed principles were mainly quite broad, emphasizing analysis, monitoring and guarding. The paper explicitly says the proposals should be taken up by “the Directors.” The first principle did contain a concrete injunction, reading: “Safeguard monetary sovereignty and stability by strengthening monetary policy frameworks and do not grant crypto assets official currency or legal tender status.”
The executive board expressed its agreement with the proposals in the paper and specifically endorsed its position on crypto as legal tender, saying members “generally agreed” with it. The board also the principle of “same activity, same risk, same regulation” and “emphasized that the Fund could serve as a thought leader in further analytical work” on crypto assets.'[...] widespread adoption of crypto assets could undermine the effectiveness of monetary policy'
The community wants crypto to be legal tender 🙌
Old people don't understand the technology of the future and they don't care. They want to have what they know because they are closer to the sand than others and don't want to accept new things... this is f*** greedy
The IMF is the US
The world to IMF ….
Bitcoin doesn't care 🙌🏻
We need no regulation. We need no rulers. We need no “institutional adoption”. Peer-to-peer transactions, self-custody, freedom and sovereignty. That’s what we need. 🏴☠️
Looks like the IMF is angry that ElSalvador is a Bitcoin BTC success story, the IMF is losing power...Long Live Bitcoin 🤣
Oh, so the IMF is all for regulation as long as it doesn't involve actually using Bitcoin. Got it.