The International Monetary Fund believes that the massive introduction of digital currencies will increase pressure on the global banking system.
The impact of innovative instruments continues to grow and they could undermine financial stability, the IMF report says. He warns that the shift of capital to digital currencies could lead to the fact that banks will face an outflow of deposits and be forced to reduce lending.
The IMF published its study just a few days after the collapse of banks directly or indirectly associated with the blockchain industry – Signature Bank (SBNY), Silicon Valley Bank (SVB) and Silvergate Bank (SI).
Fund analysts warned G20 countries that central banks need to pay special attention now to the state of their reserves. They may be needed to support financial institutions facing withdrawals and curtailing lending policies.
The main threat is the lack of regulation of the cryptosphere, and this problem needs to be solved, according to the IMF.
The International Monetary Fund has repeatedly demanded that the authorities of El Salvador cancel the law recognizing bitcoin as a means of payment. He warned the authorities of this country about the risks that it may face after such a step.
