UN warns against rapid adoption of crypto in developing nations

Tax evasion depletes resources for development, report finds

crypto-coins

The UN has warned against the rapid uptake of cryptocurrencies in emerging economies due to the ways in which they divert money away from development. 

The global use of cryptocurrencies increased exponentially during the pandemic. Among the top twenty countries with the highest share of the population that own digital currencies, Ukraine came first (12.7%), followed by Russia (11.9%) and Venezuela (10.3%). 

  !function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.