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Emerging Market 'cryptoization' Threatens Financial Stability - IMF  VIEW : 314    
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: 6 ͹ Ȩԡ¹ ..2564 08:44:42    ѡش觻ѹ

By Tom Wilson

LONDON, Oct 1 (Reuters) - The advent of digital currencies in emerging markets could spark "cryptoization" of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on Friday.

Bitcoin and its kin have in the last year soared in price and popularity, with emerging and developing market economies such as Vietnam, India and Pakistan crypto idx trading currency exchange Indonesia seeing rapid growth in some measures of adoption, according to website U.S.

blockchain researcher Chainalysis.

Cryptocurrencies offer, in theory, a cheaper and quicker way of sending money across borders. Backers say digital tokens such as stablecoins could also help protect savings from high inflation or fluctuations in local currencies.

(Reporting by Tom Wilson. Editing by Jane Merriman)




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