IMF and Bank of Banks (BIS) ready to embrace cryptocurrencies? Only those on a leash

Well-centralized cryptocurrencies in the spotlight – Endowed with supranational powers, decades have passed since International Monetary Fund (IMF) and the Bank for International Settlements (BIS) brings rain and sunshine to state finances. The most compatible (obedient?) Countries are rewarded with large loans, sometimes in the billions of dollars. While the “bad” students.as the Salvador adopts Bitcoin as its currencysee yourself to refuse their promisesfinancial help.

IMF and BIS have eyes only for MNBCs

The higher they are in the international banking organization chart, the more bankers they seem I hate Bitcoin (BTC) and the decentralized cryptocurrencies. Speaking of large fundraisers, they are the top executives of Bank for International Settlements who have just published a column on the IMF website. The latter, in particular co-signed by Augustine Carstens (Director General of the BIS), has the title:

“Central banks should leverage the technical capabilities of cryptocurrencies to create a richer monetary ecosystem. “

Finally a recognition of cryptocurrencies? Not really. Just some of them technology And innovations. In fact, a good cryptocurrency is a cryptocurrency under their control for our dear bankers.

The IMF and BIS love cryptocurrencies … as long as they have control over them

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Extract contributions from cryptocurrencies to create MNBC on orders

From the part of reviews cryptocurrencies in this forum, the list would be a bit long to do, but here is a very eloquent excerpt of what the big financiers think:

“(…) Cryptocurrencies are neither stable nor efficient. It is a largely unregulated industry. (…) Frequent frauds, thefts and scams have raised serious concerns about the integrity of the market. “

the Earth disasterUSD (UST) is even cited as an example for the dismantling of stablecoins. As always, the bankers, on the other hand, prove themselves absolute fans of the central bank digital currencies (MNBC).

“Cryptocurrencies have introduced us to the possibilities of innovation. However, its most useful elements must rest on firmer foundations. By embracing new technical capabilities, while relying on a core of trust, the central bank’s digital currency can form the foundation of a rich and diverse monetary ecosystem that is scalable and designed for the greater good. “

Tribuna del Bank for International Settlements

What the beautiful story of central bankers never tells is immense problem of censorship that such currencies would imply. Earlier this year, just before the conflict in Ukraine wiped out all other information, the Canadian government and the banks showed it to us their power to freeze bank accounts protesters from Convoy of Freedom. Bitcoin and its resistance to censorship were then a small pebble in the shoes of the authorities. In a world dominated by MNBC, it would have been even easier to subdue any protest by directly attacking the wallets of the opponents.

No offense to the IMF, there are still platforms that preserve your privacy. Register now on PrimeXBT, the exchange without KYC (commercial link).

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