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Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis…
International Monetary Fund Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies.
IMF managing director Kristalina Georgieva says digitalization is “the most important way” to scale up financial inclusion.
The Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis Paper of the International Monetary Fund and the Financial Stability Board.
The first deputy governor at Banque de France calls central bank digital currency “the catalyst for improving cross-border payments.“
The matrix aims to identify potential risks associated with the crypto space and policy responses for regulators.
The policy paper includes recommendations for regulating activities related to stablecoins and decentralized finance (DeFi).
The country emphasizes the necessity of dealing with the risks of digital assets in developing economies.
Entering the crypto economy is not a good idea for a country with “capacity constraints” and no central bank, the IMF thinks.
Like the IMF’s single ledger proposal released a day earlier, BIS' unified ledger uses familiar concepts, such as tokenization, without the blockchain.