UNICEF calls for cryptocurrencies to be added to the list of threats to children

The organization believes that the lack of regulation of the industry can be harmful

01.02.2022 - 07:10

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What’s new? The United Nations Children’s Fund (UNICEF) has published a major report on the prospects for children’s development in 2022. In addition to the obvious challenges to growth, such as a pandemic or rising inflation, the experts mentioned cryptocurrencies in their report.

Link to the UNICEF report

What arguments does the organization give? According to UNICEF’s representatives, the threat lies in the lack of regulation of this asset class. The development of alternative finances can be harmful to the financial system of the state as well as directly to children. The reason is “unregulated transactions that support child trafficking, sexual exploitation, the sale/purchase of illegal content, fraud, and extortion.”

The analysts believe that in 2022, the global leaders will be working on a full-scale implementation of a regulatory framework to ensure that all cryptocurrencies and unregulated digital assets function under uniform international rules

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