IMF Recommends Marshall Islands to Stay Away From Issuing Crypto

  • Yuri Molchan
    📰 News

    Marshall Islands adopted a bill intending to launch a sovereign virtual coin to protect economy from risks to do with being not connected to the world’s financial system


IMF Recommends Marshall Islands to Stay Away From Issuing Crypto

In winter, the Marshall Islands adopted a bill intending to launch a sovereign virtual coin in order to support their economy and protect it from risks to do with being not connected to the world’s financial system.

The IMF believes that the region must not replace the USD with an electronic coin, since the the country lacks proper anti-money laundering regulations and this could ultimately cause the Marshall Islands to lose its banking connections with the US.

The European regulator recommends against the adoption of crypto on the Marshall Islands.

Cover image via u.today
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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