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Crypto market quickly rebounds after IMF predicts increased recession risk

Bitcoin quickly rebounded above US$21,000 coming into Asian buying and selling hours on Wednesday after falling beneath the mark in a single day because the International Monetary Fund (IMF) minimize its global growth outlook for this 12 months and subsequent, warning that the world economic system could quickly be on the cusp of an outright recession.

The Argentine government has banned cryptocurrency investors in the country from buying dollars.

According to details, Argentina’s central bank has issued a new set of sanctions, which have adversely affected citizens and company owners.

Read more: CEO Binance reacts to Elon Musk selling his cryptocurrency holdings

The package released by the bank states that the bank will only sell dollars at the official rate to individuals and companies that have not bought crypto in the last 90 days, with the aim of reducing the dollar’s appreciation in the exchange rate. to stop.

On the other hand, last week, Indian Finance Minister Nirmala Sitharaman told Parliament that the Reserve Bank of India has expressed concerns over the harmful effects of cryptocurrency on the country’s financial stability and has suggested legislation for the sector.

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