News
The country’s central bank chief does not see the recent Bitcoin adoption move hampering plans to secure an IMF loan.
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IMF News
The IMF or the International Monetary Fund is a specialized agency of the United Nations that is headquartered in Washington, D.C. The IMF is a large international organization which includes over 189 countries and 2500 of employees. The IMF’s meaning for countries is activity during short-term macroeconomic crisis, as it provides credit not only to underdeveloped countries, but all countries that are members of the IMF. In terms of cryptocurrency, the IMF has issued a report considering the benefits and drawback of using Bitcoin and other altcoins. The organization recommends creating a regulatory framework that will secure common users and will not prevent the innovative technology’s development. Besides that, in 2017 the IMF was considering the issue of making its own cryptocurrency as new currency for reserve.
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The group identified the crypto space at risk from hacking, “lack of transparency around issuance and distribution” of tokens, and operational risks including outages during periods of extreme volatility.
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Debt ceiling uncertainty erodes trust in the dollar, the DOJ announces the National Cryptocurrency Enforcement Team and the SEC investigates Circle.
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Kristalina Georgieva said that stablecoins "fill the digital gap in privately issued money," but labeled Bitcoin and other cryptocurrencies as assets rather than a form of money.
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The new policies recommended by the IMF aim to curb down the financial risks associated with global crypto adoption.
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S&P Global believes El Salvador’s recognition of Bitcoin as legal tender has brought “immediate negative implications” for its credit rating.
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Central bank digital currencies are the next frontier for blockchain. Roxe wants to make BTC hashrate the anchor for future CBDCs.
3249 - Expert Take
The G20, OECD and other international agencies are set to implement a multilateral approach to tax policy to achieve sustainability goals.
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The fund will greatly expand to cover all aspects of digital currency while also working with related financial institutions.
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Making any cryptocurrency a national currency “is an inadvisable shortcut” to more inclusive financial services, according to two IMF officials.
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A new report released by the triumvirate of global finance argues that central bank digital currencies will benefit worldwide development.
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Here’s what crypto and blockchain experts think about Salvadoran President Nayib Bukele’s announcement that Bitcoin is now legal tender.
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The Monetary Authority of Singapore is seeking new retail CBDC solutions with a new global challenge offering cash prizes and expert digital currency mentorship.
5121 - Opinion
The question is not whether Bitcoin will be the future of money; the question is how, where and when it will be the future of money.
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JP Morgan says that El Salvador's decision to adopt Bitcoin as legal tender is of little economic benefit.
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