More

    Bitcoin Price To Suffer? Crypto Action Plan Issued by IMF

    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.

    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.

    This article is not financial advice to anyone. Always DO YOUR OWN RESEARCH before investing in the market. The presented content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    - Advertisement - spot_img

    You might also like...

    bitcoin
    Bitcoin (BTC) $ 27,009.24
    ethereum
    Ethereum (ETH) $ 1,673.50
    tether
    Tether (USDT) $ 0.999859
    bnb
    BNB (BNB) $ 216.50
    xrp
    XRP (XRP) $ 0.535535
    usd-coin
    USDC (USDC) $ 1.00
    staked-ether
    Lido Staked Ether (STETH) $ 1,674.69
    cardano
    Cardano (ADA) $ 0.253061
    dogecoin
    Dogecoin (DOGE) $ 0.062039
    solana
    Solana (SOL) $ 20.20
    tron
    TRON (TRX) $ 0.089027
    the-open-network
    Toncoin (TON) $ 2.23
    polkadot
    Polkadot (DOT) $ 4.09
    litecoin
    Litecoin (LTC) $ 65.81
    matic-network
    Polygon (MATIC) $ 0.52119
    bitcoin-cash
    Bitcoin Cash (BCH) $ 233.54
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 27,037.24
    shiba-inu
    Shiba Inu (SHIB) $ 0.000007
    chainlink
    Chainlink (LINK) $ 7.76
    dai
    Dai (DAI) $ 1.00
    true-usd
    TrueUSD (TUSD) $ 0.999172
    leo-token
    LEO Token (LEO) $ 3.65
    uniswap
    Uniswap (UNI) $ 4.46
    avalanche-2
    Avalanche (AVAX) $ 9.26
    stellar
    Stellar (XLM) $ 0.116802
    monero
    Monero (XMR) $ 145.73
    okb
    OKB (OKB) $ 43.20
    binance-usd
    BUSD (BUSD) $ 1.00
    ethereum-classic
    Ethereum Classic (ETC) $ 15.83
    cosmos
    Cosmos Hub (ATOM) $ 7.16
    hedera-hashgraph
    Hedera (HBAR) $ 0.049727
    filecoin
    Filecoin (FIL) $ 3.32
    lido-dao
    Lido DAO (LDO) $ 1.61
    internet-computer
    Internet Computer (ICP) $ 3.17
    crypto-com-chain
    Cronos (CRO) $ 0.050625
    quant-network
    Quant (QNT) $ 90.55
    maker
    Maker (MKR) $ 1,452.98
    aptos
    Aptos (APT) $ 5.50
    mantle
    Mantle (MNT) $ 0.39842
    vechain
    VeChain (VET) $ 0.016856
    arbitrum
    Arbitrum (ARB) $ 0.897724
    optimism
    Optimism (OP) $ 1.33
    near
    NEAR Protocol (NEAR) $ 1.11
    kaspa
    Kaspa (KAS) $ 0.048346
    rocket-pool-eth
    Rocket Pool ETH (RETH) $ 1,816.33
    aave
    Aave (AAVE) $ 65.85
    the-graph
    The Graph (GRT) $ 0.087883
    algorand
    Algorand (ALGO) $ 0.100321
    whitebit
    WhiteBIT Coin (WBT) $ 5.19
    usdd
    USDD (USDD) $ 0.998256
    xdce-crowd-sale
    XDC Network (XDC) $ 0.048921
    frax
    Frax (FRAX) $ 0.998545
    havven
    Synthetix Network (SNX) $ 2.06
    blockstack
    Stacks (STX) $ 0.474533
    immutable-x
    ImmutableX (IMX) $ 0.564536
    elrond-erd-2
    MultiversX (EGLD) $ 24.95
    eos
    EOS (EOS) $ 0.577139
    bitget-token
    Bitget Token (BGB) $ 0.457049
    the-sandbox
    The Sandbox (SAND) $ 0.309037
    tezos
    Tezos (XTZ) $ 0.674551
    theta-token
    Theta Network (THETA) $ 0.638315
    injective-protocol
    Injective (INJ) $ 7.50
    bitcoin-sv
    Bitcoin SV (BSV) $ 31.53
    radix
    Radix (XRD) $ 0.058797
    axie-infinity
    Axie Infinity (AXS) $ 4.52
    thorchain
    THORChain (RUNE) $ 2.00
    render-token
    Render (RNDR) $ 1.53
    decentraland
    Decentraland (MANA) $ 0.302398
    fantom
    Fantom (FTM) $ 0.192245
    neo
    NEO (NEO) $ 7.30
    gatechain-token
    Gate (GT) $ 3.74
    kava
    Kava (KAVA) $ 0.631862
    paxos-standard
    Pax Dollar (USDP) $ 0.999638
    ecash
    eCash (XEC) $ 0.000025
    compound-ether
    cETH (CETH) $ 33.62
    pax-gold
    PAX Gold (PAXG) $ 1,881.52
    flow
    Flow (FLOW) $ 0.448914
    tether-gold
    Tether Gold (XAUT) $ 1,877.06
    curve-dao-token
    Curve DAO (CRV) $ 0.525112
    frax-share
    Frax Share (FXS) $ 6.06
    apecoin
    ApeCoin (APE) $ 1.21
    kucoin-shares
    KuCoin (KCS) $ 4.60
    frax-ether
    Frax Ether (FRXETH) $ 1,671.24
    rocket-pool
    Rocket Pool (RPL) $ 21.87
    rollbit-coin
    Rollbit Coin (RLB) $ 0.129275
    iota
    IOTA (MIOTA) $ 0.151579
    chiliz
    Chiliz (CHZ) $ 0.059041
    first-digital-usd
    First Digital USD (FDUSD) $ 1.00
    tokenize-xchange
    Tokenize Xchange (TKX) $ 4.94
    huobi-token
    Huobi (HT) $ 2.41
    gala
    GALA (GALA) $ 0.014297
    sui
    Sui (SUI) $ 0.480888
    bittorrent
    BitTorrent (BTT) $ 0.00000038597941
    mina-protocol
    Mina Protocol (MINA) $ 0.376477
    klay-token
    Klaytn (KLAY) $ 0.114077
    terra-luna
    Terra Luna Classic (LUNC) $ 0.000062
    casper-network
    Casper Network (CSPR) $ 0.031041
    gmx
    GMX (GMX) $ 37.90
    dydx
    dYdX (DYDX) $ 1.94
    coinbase-wrapped-staked-eth
    Coinbase Wrapped Staked ETH (CBETH) $ 1,752.99