Amid the highly-anticipated approval of Bitcoin spot exchange-traded funds (ETFs), which has sparked excitement within the crypto industry and opened doors for institutional investments, the International Monetary Fund (IMF) managing director, Kristalina Georgieva, has expressed critical views towards the nascent sector.
Are Crypto Assets Not Equivalent To Money?
In a recent interview with Yahoo Finance, Georgieva emphasized the distinction between money and crypto assets when discussing cryptocurrencies.
According to Georgieva, crypto should be regarded as an asset class rather than a form of currency. She highlighted the alleged varying levels of security and risk associated with different cryptocurrencies, depending on whether assets back them. Georgieva likened crypto to a money management fund rather than a true form of money. The International Monetary Fund Director claimed:
Our view is that we have to differentiate between money and assets. When we talk about crypto, we are ac
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