IMF Opposed to Bitcoin as Legal Tender, Crypto Community Responds
The IMF's recent opposition to crypto becoming a legal tender has sparked a backlash from the crypto community.
A member of the crypto community has expressed their belief that future generations will reflect on this moment as the time when the world succeeded in becoming decentralized.
The International Monetary Fund (IMF) has taken another anti-crypto stance, opposing the idea of crypto becoming a legal tender.
The community quickly fired back at the IMF’s recent endorsement of a crypto asset policy framework that did not grant crypto assets an official currency or legal tender status, citing the move as necessary for monetary stability.
Many community members took to Twitter to express their support for Bitcoin and to compare the situation to past technological advancements.
While some criticized the IMF for refusing to accept BTC due to their fear of competition, others argued that governments would eventually realize Bitcoin is the only way to exit debt slavery to central banks.
Some community members even mocked the issue, comparing the IMF’s efforts to go against crypto to the fax machine complaining about the emergence of emails.
Carl B Menger, a Twitter user and Bitcoiner, expressed happiness that countries are independent of the IMF and can do their best for their citizens.
BREAKING: “IMF states that cryptocurrencies should not be granted official currency or legal tender status in order to safeguard monetary sovereignty and stability.“
Glad that countries are independent and do the best for their citizens. LOL https://t.co/xSVJTPY760
— Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) February 24, 2023
Overall, the community sees this as another historical moment that they can reflect on once they succeed in making the world decentralized.
Fax: Email should not be made legal
Email: Fu https://t.co/7SuQ5bqVOv
— CryptoSmind (@SmindCrypto) February 24, 2023
The IMF’s opposition to crypto being adopted as legal tender has been consistent, with recent pressure on El Salvador to reconsider their plans for Bitcoin drawing mixed reactions from the community.
Some dismissed the news as “FUD,” while others interpreted it as a strong bullish signal for BTC.