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.
Major global economists credit Facebook’s Libra with pushing the world to reconsider the U.S. dollar as the world’s anchor currency at WEF panel in Davos.
Facebook’s Libra Pushed World to Reconsider USD as Global Reserve Currency: WEF
Binance looks to expand in the country, a new working group assesses security token offerings, and more headlined news in Japan this past week.
Crypto News From Japan: Jan. 13-17 in Review
IMF chief economist Gita Gopinath said she sees too many different complications blocking a digital currency from overtaking the U.S. dollar.
Though 'Intriguing,' Crypto Won't Dethrone Dollar, Says IMF Economist
The International Monetary Fund has encouraged the Philippines’ central bank to explore the possibility of starting to collect data on cross-border flows of cry...
IMF Urges Philippines’ Central Bank to Collect Crypto Exchange Data
What are the key advantages and disadvantages of CBDCs?
The Financial System of the Future — Who Benefits From CBDCs?
The former head of People’s Bank of China, Zhou Xiaochuan has argued that Libra would be more readily trusted if it were in the hands of an entity like the IMF.
Former PBoC Governor: Libra Would Be Trusted If Run by IMF
As the IMF says a fresh crisis looms, one Bitcoin analyst reminds the industry that fiat currencies trend to zero in just 27 years.
Bitcoin Has Already Reached 40% of Average Fiat Currency Lifespan