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    WebsCrypto—News—Business News—IMF Official: The Sell-off in the Crypto Market Has Not Spread to the Real Economy
    Business News

    IMF Official: The Sell-off in the Crypto Market Has Not Spread to the Real Economy

    By WebsCryptoJuly 31, 2022
    IMF Official: The Sell-off in the Crypto Market Has Not Spread to the Real Economy
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    Antonio Garcia Pascual, deputy director of the Global Market Analysis Department of the International Monetary Fund (IMF), said in a guest appearance on Coindesk TV that the sell-off in the crypto market has not really spread to the real economy, and has largely stayed within the crypto ecosystem. The impact on the wider financial system, Pascual said: What you’re seeing is quite a bit of change in riskier assets, including certain stablecoins and tokens in decentralized finance (DeFi).

    Cryptocurrencies are expanding particularly rapidly in emerging markets, which are bearing the brunt of a worsening global economy, especially in countries with high debt, rising inflation and currency volatility, Pascual said, although the adoption of cryptocurrencies as legal tender may represent a technological progress and promote financial inclusion, but when these countries experience macro- and financial stability-related shocks, crypto adoption incurs more risks.

    DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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