Crypto-asset surge poses risks to monetary policy – IMF warns

…Says Nigeria received $59bn in crypto inflows, ranks 2nd globallyBy Emma Ujah, Abuja Bureau ChiefThe International Monetary Fund (IMF) has warned that the rising use of dollar-backed stablecoins in Nigeria could undermine monetary policy effectiveness, financial stability and monetary sovereignty, even though they offer benefits in cross-border payments.In its Country and Regional Focus report released in Washington, D.C., the Fund noted that sharp depreciation of the naira, high inflat