IMF officials: do not make crypto legal tender

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- Central Banking Newsdesk
- 28 Feb 2023

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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

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