International Monetary Fund warned the consequences of crypto legalization, BTC price switched the way amid Amazon statement

International Monetary Fund warned the consequences of crypto legalization, BTC price switched the way amid Amazon statement

There are possible threats in macro-economic stability among countries that accept digital assets as national currency or payment tools. The opinion was expressed in the IMF blog by the head of the marketing department of the structure, Tobias Adrian, and the general counsel of Rod Wicks-Brown.

The experts are equal in mind that “new digital assets” can make the payments even cheaper and faster, simplify the access to financial services and make international transactions easier. On the other hand, it’s accompanied by “controversial political measures” and large investments.

“Some countries may be tempted by a shortcut: adopting crypto assets as national currencies. Many are indeed secure, easy to access, and cheap to transact. We believe, however, that in most cases risks and costs outweigh potential benefits,’’ said the IMF experts.

Besides, the IMF mentors state BTC as a “speculative asset”. They believe BTC-accepted countries can be faced using the first cryptocurrency in illegal issues and ecological problems.

BTC price switched the way amid Amazon statement of crypto integration

According to Coinmarketcap, BTC has fallen to the previous level of $37.800. Earlier, July 26, the price runs above $40.000, according to Bitstamp. The key hides amid Amazon rumor denial the company would accept crypto assets by the end of the year.

Amazon’s commissioner confirmed the company is interested in crypto markets. At the same time, he insists the company has not done even a step talking about accessing crypto.

“Notwithstanding our interest in the sphere, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon.