Milei presidential victory fuels optimism in Argentina’s Bitcoin community
After a long and dramatic presidential race, libertarian candidate Javier Milei triumphed in Argentina’s presidential election on Nov. 19.Milei promises to abolish the country’s central bank, among a slew of other radical policy changes capturing the attention and imagination o ...
IMF head: CBDCs can replace cash, help financial inclusion
During her opening speech at the Singapore FinTech Festival, International Monetary Fund (IMF) Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies (CBDCs) and related payment platforms in the future.Georgieva expresse ...
IMF director urges ‘financial inclusion’ via digitalization
During her opening speech at the International Monetary Fund’s (IMF) seminar on financial inclusion in Marrakesh, IMF Managing Director Kristalina Georgieva said digitalization is “the most important way” to scale up financial inclusion. “It is digital that moves help to people, inves ...
IMF, FSB release joint policy recommendations for crypto assets
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published a joint paper containing policy recommendations at the request of the Indian G20 Presidency. The organizations have created the paper to combine the standards and consolidate collective recommendatio ...
What is the International Monetary Fund, and how does it work?
Maintaining stability in the international financial system is essential for sustaining economic growth in a connected global economy. In this context, the International Monetary Fund (IMF) is essential for fostering international monetary cooperation, maintaining exchange rate stability and mana ...
BIS releases unified ledger proposal for cross-border, tokenized asset transactions
The Bank for International Settlements (BIS) has released a chapter of its annual report early. That chapter, on the future of the monetary system, discussed “a new type of financial market infrastructure – a unified ledger.” The chapter was published June 20, one day after the International Mone ...
IMF envisions ‘new class’ of cross-border payment platform with single ledger
The International Monetary Fund (IMF) has presented the outlines of a “new class” of cross-border payment system that uses a single ledger to record central bank digital currency (CBDC) transactions, programmability and improved information management. IMF officials chose ...
G7 Supports Stricter Crypto Regulation and Global Regulatory Framework for Cryptoassets
This rule requires service providers to share customer data The FATF believes this will solve the problem of tax defaulters The bloc is expected to present a draft global regulatory framework for cryptoassets in June The Group of Seven (G7) met in Nii ...
IMF Urges Zimbabwe to Replace Gold-Backed CBDC with Currency Liberalization
The International Monetary Fund called on the Zimbabwean authorities to replace the introduction of a digital state coin backed by gold with liberalization of the currency legislation. The IMF believes that the CBDC will not help solve macroeconomic problems such as the vol ...
IMF Plans to Start with Wholesale CBDCs Only for Financial Institutions
IMF Managing Director Kristalina Georgieva acknowledged the role of CBDC But plans to start with wholesale types This CBDC is only for dealing with financial institutions IMF Managing Director Kristalina Georgieva spoke at the Milken Institute Global ...
IMF’s Digital Currency Authority to Launch UMU for Cross-Border Settlements
The International Monetary Fund's Digital Currency Monetary Authority (DCMA) recently announced the forthcoming launch of the Unicion Universal Currency Unit (UMU). A digital currency that will be accepted as legal tender for cross-border settlements. UMU will be recognized by all settlement p ...
Challenges of CBDC Adoption in Islamic Banking Systems
The Islamic states have been alerted by the International Monetary Fund (IMF) regarding potential challenges that local banking systems may encounter when introducing digital currencies of central banks. According to IMF experts, the uneven development of Islamic banking and a limited number of c ...
IMF Warns El Salvador Against Bitcoin Exposure Expansion
Following its official visit to El Salvador, the International Monetary Fund (IMF) has issued a statement urging the country's authorities to reconsider their plans to increase government exposure to Bitcoin. According to the IMF, El Salvador has yet to overcome the potential risks associated wit ...