IMF officials: do not make crypto legal tender

Fund leaders call for cautious approach to digital assets at February meeting

IMF logo
Photo: Flickr/freeimage4life

International Monetary Fund leaders counselled member states against using cryptocurrency as legal tender at a February meeting, the fund reported on February 23.

The fund’s executive board was discussing a paper on crypto asset regulation, which proposed nine principles. The first of these was to “safeguard monetary sovereignty” and monetary policy by denying crypto the status of state-backed currency.

The board “generally agreed that crypto assets should not be granted official currency or

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 or view our subscription options here:

You are currently unable to copy this content. Please contact 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

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