The International Monetary Fund warned the G20 countries about the risks of using cryptocurrencies by banks. This is stated in the IMF report on the "

“The ubiquity of crypto assets could lead to banks losing deposits and curtailing lending,” the IMF warns.

The warning came days after the collapse of cryptocurrency-friendly banks Signature Bank, Silicon Valley Bank (SVB) and Silvergate Bank..

As explained by the IMF, the widespread use of cryptocurrencies is associated with risks to the effectiveness of monetary policy, exchange rate management and capital flow management measures, as well as fiscal sustainability..

In addition, changes to central bank reserve funds and the global financial safety net may be required, leading to potential instability..

The report also refers to "

Recall that following the meeting in India, the G20 decided to develop global rules on cryptocurrencies based on the yet to be prepared consolidated document of the IMF and the Financial Stability Board (FSB).

Recall also that in Ukraine, a study showed that cryptocurrency is popular mainly among young people under 24 years old..

According to various studies, from 5 to 12 percent of the population in Ukraine today have dealt with cryptocurrencies and blockchain.

In July last year, the State Financial Monitoring Service of Ukraine published an " The report, in particular, expressed concern that in Ukraine there is a high risk of illegal use of cryptocurrencies..

In February 2022, the Verkhovna Rada of Ukraine adopted Law No. 3637 "

Read the article by Irina Kravchenko and Ekaterina Chechulina \?