The IMF has called for tighter crypto regulations in Africa in order to stunt any further growth on the continent.
The International Monetary Fund (IMF) is using the FTX collapse to its best advantage, saying that regulation is needed soon in order to better protect consumers and to avoid stability risks for the wider financial and economic system.
An article on the IMF blog cites a Chainalysis report stating that Africa is one of the fastest-growing crypto markets in the world even though it is still the smallest on a world scale.
In the above chart taken from the same article it can be seen that restrictions and bans on crypto are in place over much of Africa. Only the Central African Republic has allowed crypto to be used as legal tender, much to the chagrin of the IMF.
The IMF writers of the blog post acknowledge that many people in Africa use crypto assets for payments but state that their volatility makes them a poor store of value. The writers also point out the following:
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We współpracy z: https://cryptodaily.co.uk/2022/11/imf-seeks-to-prevent-crypto-growth-in-africa
