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International financial authorities and 20 of the world’s largest economies are establishing official standards for regulating and issuing sovereign digital currencies.The Group of Twenty (G20) — an international forum for the governments and central bank governors from 19 countries and the European Union — said in a report today that
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An old International Monetary Fund video explaining the benefits and disadvantages of cryptocurrency has resurfaced on social media, and many viewers are largely unimpressed.The two-minute video originally published in June 2018, which the International Monetary Fund (IMF) posted to its Twitter account on Aug. 23, refers to cryptocurrency as the
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In a recent keynote speech to the London School of Economics, International Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, briefed the positives and negatives of a central bank digital currency (CBDC).Zhang pointed toward greater efficiency and lower costs associated with a CBDC. “In some countries, the cost of
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Digital currencies have gained prominence over the last few years, although such options will not budge the U.S. dollar from its seat of prominence, according to chief economist International Monetary Fund (IMF) Gita Gopinath.“Improvements in payment technology may have lowered the cost of switching from cash to digital payments,
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The chief economist at the International Monetary Fund (IMF) has said digital currencies are not about to challenge the U.S. dollar's pivotal role in global trade. In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF's chief economist in January 2019, wrote that
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The former head of People’s Bank of China (PBoC), Zhou Xiaochuan has argued that the Libra stablecoin would be more readily trusted if it were in the hands of an organization like the International Monetary Fund (IMF).Zhou is the longest-serving governor of China’s central bank to date, having held
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European Central Bank (ECB) president candidate and International Monetary Fund (IMF) chief Christine Lagarde stated on Sept. 4 that central banks and financial supervisors should protect consumers but also be open to innovation such as cryptocurrencies.Changes are opportunitiesDuring her opening statement, shared with CryptoX in an IMF press release,
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