There is no doubt that the International Monetary Fund (IMF) has no love for crypto and has never been shy about it, and the now running mob tactics to try and stop crypto from spreading further worldwide, but I don't think that is going to possible and because despite all that has been happening in the crypto market, the crash of Bitcoin prices which led to this prolong bearish market that has been on for months now, people are still running to crypto as a safe haven and a path to financial freedom. Do you want to know why I said the International Monetary Fund (IMF) is running a mob like fight against crypto. Now take for example last year Argentina ranked 10th position amongst countries with the highest adoption and recently the two largest Private Bank in Argentina Banco Galicia, and online bank Brubank announced they would allow users to buy different crypto coins using their investment applications.
Due to the 55% inflation in Argentina, but the IMF has pressured the country to discourage Crypto adoption before agreeing to a $44 billion loan, to help boost their central bank reserve so they can meet up to their dept payment program that began this week. And voila starting from the end of this month, financial institutions in Argentina will no longer be allowed to offer any crypto-related services anymore, which include buying and selling crypto assets through their bank applications and digital wallets. Although the Central Bank of Argentina is trying to play it cool and say the crypto restrictions are due to an agreement deal with the IMF to discourage the use of cryptocurrencies with a view to preventing money laundering, informality and disintermediation, we all know that is a front for the real agenda, which is to please the International Monetary Fund (IMF).
Is that not a pure mob like tactic, that when the logic doesn't support you, you must use force to get what you want? the International Monetary Fund (IMF) has been using their funds to make countries reject Crypto. They criticized El Salvador and the Central African Republic for adopting Bitcoin as legal tender but they can't do anything about that because it is not up to them to dictate to countries that are not owning them or need loans from them. But they have succeeded with Argentina and India. And they are still pushing to discourage more countries from adopting crypto. I feel the IMF is afraid of the potential of crypto and that crypto might make them irreverent and Poor Nations will no longer need to beg them for financial support.
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