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The United Nation’s Conference on Trade and Development, UNCTAD, has released three policy briefs on the dangers of cryptocurrency in light of the rising use of digital assets in developing countries.
UNCTAD states that there is a rapid uptake of crypto in the top economies of 2021 , with Ukraine, Russia, and Venezuela holding the largest percentage of their populations owning digital currency, at 12.7%, 11.9%, and 10.3% respectively.
“In developing countries with unmet demand for reserve currencies, stablecoins pose particular risks. For some of these reasons, the International Monetary Fund has expressed the view that cryptocurrencies pose risks as legal tender,”
https://www.finextra.com/newsarticle/40801/un-urges-curbs-on-crypto-uptake-in-developing-countries
