Crypto warns the IMF that Bitcoin is over $ 41,000 worth of cryptocurrencies in emerging markets.

Yahoo Financial Jennifer Shunberger discusses the emergence of crypto trading risks in emerging markets and why cryptocurrencies are superior to cryptocurrencies.

Video copy

Akiko Fujita mourning Well, the International Monetary Fund (IMF) has released a new report on the impact of crypto trading on the global economy. Yahoo Finance Jane Shunberger joins the latest on that front. Jane: We’ve heard from the IMF about the global economy. What are you talking about, especially crypto?

Jennifer Shunberger: Good morning, Akiko. The International Monetary Fund (IMF) has warned that increasing crypto trading in emerging markets could pose a threat to the global financial system. Now the IMF has also stated that the war in Ukraine poses a threat to crypto payment systems.

The IMF said in a statement: “The consequences of Russia’s invasion of Ukraine and the ensuing sanctions will continue to worsen globally and will test the resilience of the financial system in a number of ways, including emerging markets, direct and indirect exposure. Banks and non-banks and possible cyber-related events. “

We have seen an increase in the use of cryptocurrencies in emerging markets since the beginning of the epidemic. And the IMF has highlighted the increase in trading volumes of crypto assets on some emerging market currencies since Western Russia sanctions. Tetter, of course, is the biggest stable currency used to solve space and start-up businesses, especially in emerging markets. That increase is particularly noticeable in Turkey, where exchange rates fluctuate, and the overall use of crypto assets has received significant attention in recent years.

The IMF also warned that cryptocurrencies could be used to evade sanctions. U.S. Treasury Secretary Janet Yellen said that although the Treasury Department has not seen any evidence that such sanctions have been used to circumvent them, Now, Akiko, IMF policy makers are advising the global financial system to set up global regulatory standards to control digital assets to prevent these risks, citing decentralized financial platforms as well as the need for more control by Fintech companies. . Come back to you.

Brian Cheng Pages Yahoo Finance Jennifer Shunberger, thank you very much. Let’s take a look at Bitcoin as there is a lot of activity in the crypto space. It is currently trading over $ 41,000. In fact, it was less than 40,000 yesterday, and much has been done today.

But obviously, those crypto-selling companies are suffering more than real digital assets, at least in the long run. Now you can see Coinbase with Bitcoin, in a very different way. So, you know, Bitcoin and Coinbase and all other crypto-related stocks or assets do not always move in the lock, Akiko.

Akiko Fujita mourning Yes, Coinbase one, another Robinwood we follow. And you have to think about how much of a real deal it is with crypto, how much of those companies are particularly working on their accounts. We’re also looking at some ETFs – well, there’s Robinwood. He is risen today. But we also– because we were also looking at some ETFs with Bitcoin exposure, remember, when these ETFs started last year, this was not necessarily about direct investment in crypto.

Brian Cheng Pages [INAUDIBLE]

Akiko Fujita mourning all right —

Brian Cheng Pages People love that.

Akiko Fujita mourning And critics say this is not a direct investment in crypto. That doesn’t necessarily work. You see where they are today, they are up. But if you look at something like ProShares, that’s up – down, what, 40% of the maximum we’ve seen –

Brian Cheng Pages Decreased by 10% so far.

Akiko Fujita mourning Year after year, but year after year, I’m thinking about it. Where – because if you think where Bitcoin sells, we saw the highest in November last year. Since then, everything has changed dramatically. So, obviously, those EFAs trade in the same way.

Brian Cheng Pages And, you know, I mean, in the past, we used to talk about Elon Musk and Twitter every day. I mean, this was the hottest thing.

Akiko Fujita mourning By the way, we are still in that moment.

Brian Cheng Pages No, but I mean–

Akiko Fujita mourning We are not talking about it today.

Brian Cheng Pages Here I am, a financial marketer, and I like it when everyone is worried about the ETF because a lot of people are curious about how these exchanges are being raised. And, you know, the original release of ProShares product, again, Bitcoin spot ETF, did you have a lot of optimism about what will happen next? The Bitcoin spot ETF is, in fact, the opposite of the future, which is the ProShares ETF.

So, obviously, the SEC has been wandering around on that topic. Whenever Gary Gensler was asked about it, the type of shooting, the actual Bitcoin itself, could come from the ETF Pig. Look, we have not received any suggestion that it is coming soon. But, you know, when you saw that scattering last year when it was high, that’s probably why. But look, since then, the SEC has not said anything about this problem.

Akiko Fujita mourning Well, and if you think it is not necessary to convert, but that crypto assets themselves are outnumbered by the companies that are most vulnerable to it, many people are talking about when the ETF will go down, the place ETF, when it will go down.

Brian Cheng Crow- Still waiting.

Akiko Fujita mourning We are still waiting for Gary Gensler.

Leave a Comment