2023-11-15 13:43 |
The public sector should continue to prepare for CBDC deployment, IMF Managing Director Kristalina Georgieva said.
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Amidst economic turmoil and stringent regulations, citizens in countries like Argentina and Venezuela have turned to Bitcoin as a lifeline. The International Monetary Fund (IMF) examines how individuals in these nations are leveraging Bitcoin to manage their finances, bypassing capital controls through off-blockchain transactions.
Bitcoin's has been transforming traditional economic paradigms, and this transformation has opened it to both interest and scrutiny. The post Bitcoin has transformed cross-border transactions, IMF study notes appeared first on Crypto Briefing.
The IMF believes that central bank digital currencies (CBDCs) have the potential to eventually supplant cash in the monetary system of the world, according to the watchdog’s managing director Kristalina Georgieva.
The International Monetary Fund's planned CBDC handbook offers guidance for policymakers on how to explore digital versions of sovereign currencies.
The IMF says that state-issued digital currencies can replace cash, which is costly to distribute in island economies. While the adoption of central bank digital currencies (CBDCs) is nowhere close, they can eventually replace cash, which is “costly to distribute…
The Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis Paper of the International Monetary Fund and the Financial Stability Board.
