The International Monetary Fund (IMF) after standing firm on it's position all this while on the need for countries to ban cryptocurrency makes a u-turn. This is coming as a result of the widespread usage of digital assets and CBDCs in latin America and the Caribbean. IMF is coming to terms with reality of the benefits of digital assets and feels cryptocurrency should not be outrightly banned but should be regulated.
It would have been better if it had been managed without any sacrifice or disadvantage, but I doubt they could have managed it better without wanting to profit from it. However, regulation would be slightly better than completely banning cryptocurrencies, moreover the use of cryptocurrencies and CBDCs almost look the same at a glance so that the IMF knows that cryptocurrencies will be much better if there are specific regulations for them.Quote
I wonder what could really be responsible for the sudden change of IMF's position on the subject matter but I still think it's a win for the crypto community.
Hopefully this can actually be a victory for the crypto community, so that crypto can grow more widely in this world and also doesn't make people in the crypto community hesitate to continue to be in crypto. But if the goal of the IMF itself is to make crypto grow and also get better for the future, I think this really needs to be well supported by everyone in the crypto community. 
