NewsletterBitcoin Price To Suffer? IMF Issues Crypto Action Plan
Bitcoin Price News: The global digital asset is trading under increased selling pressure due to continuous regulatory scrutiny launched by the Financial watchdogs. The cumulative market cap has declined by 1.39% over the past day. However, the International Monetary Fund (IMF) has issued a nine point action plan for the nations to handle crypto assets.
Bitcoin Price To Take A Hit?
As per reports, IMF has asked the nations to not give digital assets like Bitcoin (BTC) the status of legal tender. El Salvador is the biggest example set by a nation announcing Bitcoin as the legal tender. However, the nation is planning to open a “Bitcoin Embassy” in the United States in order to stretch digital asset adoption.
It added that the global lender of last resort stated that its executive board discussed a paper named “Elements of Effective Policies for Digital assets. This helped the IMF member countries with guidance over the matter.
The IMF mentioned that after the horrible collapse of various digital assets, exchanges, and firms over the past few years, such measures have become a top priority for them. However, the top suggestion would be to safeguard monetary sovereignty and stability by bracing policies. While this will include not granting crypto assets a legal tender status. Read More Bitcoin Price News Here…
IMF Going Against Crypto?
Back in 2021, the IMF issued a warning for El Salvador when the nation announced to the adoption of Bitcoin as the legal tender. Later, the Central African Republic went on to do the same.
However, Bitcoin price have registered a drop of more than 2% over the past 24 hours. BTC is trading at an average price of $23,891, at the press time. Its 24 hour trading volume is up by 2% to stand at $28.6 billion.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Do Kwon Faces Up to 12 Years in Prison Over ‘Colossal’ Role in $40B TerraUSD Collaps
- ProShares Drops 3x Bitcoin, Ethereum, XRP ETF Plans After SEC Pushback
- Bitcoin Eyes Fresh Demand as Indiana Advances Bill for Crypto Investments
- Crypto Bill Markup Unlikely This Month Amid DeFi, Stablecoin Yield and Conflict Disputes, Expert Says
- Breaking: U.S. PCE Inflation Rises To 2.8%, Bitcoin Falls
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
- Is Cardano Price at Risk of a 50% Crash Ahead of the Midnight Launch?
- Is Chainlink Price Headed for $20 as Reserves Pass 1M LINK?
- Ethereum Price Breaks Out of Falling Wedge: Next Target Now Set at $5K
- Is ZCash Price Set for a Bigger Rally After Its 10% Surge on the Bitget Listing?
