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IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed

Bitcoin News LogoBitcoin News1w ago

IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed - Bitcoin News

Quick Summary:

A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said.

Policymakers are also worried that cryptocurrencies can be used to transfer funds illegally out of the region and to circumvent local rules to prevent capital outflows.

Widespread use of crypto could also undermine the effectiveness of monetary policy, creating risks for financial and macroeconomic stability.


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Article Details

Author / Journalist: Terence Zimwara

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 09:00:20 (1 weeks ago)

News Timezone: GMT +8:00

Ranking: #825 (out of 2548 stories this day)

News Source URL: news.bitcoin.com

Language: English

Article Length: 365 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoin News

News ID: 1906168

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About Bitcoin News

Bitcoin News Logo

Main Topics: Crypto

Official Website: news.bitcoin.com

Update Frequency: 16 posts per day

Year Established: 2008

Headquarters: Japan

News Last Updated: 9 hours ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #62

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The outlet is headquartered in Japan and publishes an average of 16 news stories per day.

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  • URL: https://beamstart.com/news/imf-blog-better-regulation-of-16692811001182

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