IMF issues warning over Bitcoin and crypto "rapid growth"

posted 8 months ago
The International Monetary Fund has warned the "rapid growth" of Bitcoin and cryptocurrency assets could create "new vulnerabilities in the international financial system," as the world's banks adjust to the recent Bitcoin and blockchain boom. Bitcoin and cryptocurrencies, including Litecoin and others, are being examined by the traditional financial system to gauge how they might be integrated as both investment tools and ways to move money across borders more quickly and cheaply.

"Cybersecurity breaches and cyber attacks on critical financial infrastructure represent an additional source of risk because they could undermine cross-border payment systems and disrupt the flow of goods and services. Continued rapid growth of crypto assets could create new vulnerabilities in the international financial system," according to the fund's latest World Economic Outlook report, out today.
Tags: bitcoin, news