IMF Recommends Marshall Islands to Stay Away From Issuing Crypto

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Yuri Molchan
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
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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.

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About the author

Yuri is a crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.