#IMF News

IMF Explores the Synergies Between Privately Backed Stablecoins and CBDCs

IMF Senior Official Says Private Corporations Can Bolster Digital Currencies

May 27, 2020 by Aisshwarya Tiwari at Regulation

Digital currencies are being increasingly looked into around the world, with most governments and corporations alike working on some iteration of the technology. In this regard, a senior official at the International Monetary Fund (IMF) believes a private-public nexus is the way forward for CBDCs. Public-Private the Way Ahead Tommaso...

Myron Scholes summoning a new stablecoin

Nobel Prize-Winner Myron Scholes Backs Stablecoin to Rival Facebook’s Libra

December 10, 2019 by Edoardo Vecchio at Altcoins

The Saga Foundation, a Swiss non-profit created last year dedicated to developing new technologies in open and decentralized software, is launching a new virtual currency called Saga (SGA). The token is connected to the International Monetary Fund's (IMF's) cash reserve that can initially only be owned by accredited and identified...

IMF To Warn Central Banks That Payment Narratives are Shifting Away From Them

October 17, 2019 by Ashwath Balakrishnan at Bitcoin

Central bankers and finance ministers are set to come together for the World Bank annual meeting, and the IMF has some strong advice for them: regulate digital currencies or watch your monetary monopoly lose power. Sources at Bloomberg believe the IMF has finally understood that the shift from a bank-based system to...

g& gang kickin back watching a guy point at stablecoins and an arrow saying huge risk whiteboard

G7 Report Labels Stablecoins as Significant Risk

October 14, 2019 by Ashwath Balakrishnan at Altcoins

The growth in stablecoin usage has soared since late 2017, and this has regulators and government bodies across the world incredibly worried. A new report formulated by central bank officials of the G7, the IMF, and the Financial Stability Board, believe that global stablecoins pose a systemic threat to the...

IMF Explores the Synergies Between Privately Backed Stablecoins and CBDCs

September 27, 2019 by Ashwath Balakrishnan at Altcoins

Governments have finally stood up from the sidelines and are actively embracing the innovation brought about by cryptocurrencies. While their approach is not novel, it is a more secure and efficient way of conducting activity in the same way it is done today. In a relatively in-depth blog post, the...

A coin looking pretty stable on some rocks

IMF Contemplates the Risks and Rewards of Stablecoins

September 20, 2019 by Osato Avan-Nomayo at Altcoins

The International Monetary Fund (IMF) published a new staff paper on September 19, saying stablecoins can cause significant disruptions to the current global payments framework. However, the organization also admits that this type of cryptocurrencies can contribute to improving financial inclusion across the world. Disintermediation of the Finance Sector According...

Marshall Islands: Government to Issue SOV State-Backed Crypto

September 5, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

David Paul, Minister of Assistance to the President of the Marshall Islands in an essay on September 4, 2019, revealed that the Marshall Islands is on the verge of issuing its blockchain-based sovereign currency dubbed Marshallese sovereign (SOV). SOV will have a fixed annual supply growth rate of four percent...

Sand timer with brazil colours beach sea

Brazil: Central Bank Adopts IMF Cryptocurrency Guidelines

August 27, 2019 by Aisshwarya Tiwari at Regulation

Brazil’s Central Bank, Banco Central de Brasil, published an official notice on August 26, 2019, stating that it had adopted the International Monetary Funds’ (IMF) guidelines with regard to cryptocurrency assets. Non-Financial Products In a major development in the Latin American cryptospace, Brazil’s lender of the last resort – Banco...

A Fiat dollar coin waving a digital currency flag blue purple

Report: Regulated Digital Money will Boost Global Payments Systems

July 17, 2019 by Ashwath Balakrishnan at News, Regulation

Supranational economic institutions have been studying the effects of cryptocurrency and blockchain. In a report released by the IMF, July 15, 2019, they highlight the potential for cryptocurrencies and traditional digital money to spark a new age of payments. In the future, it is idealised that cash dependence will severely...

Man at a Board Pointing to a Learning Coin

IMF and World Bank to Study Crypto with Native Token

April 15, 2019 by Tokoni Uti at Adoption, Altcoins, Development, Education, News

The International Monetary Fund (IMF) and the World Bank are working to close the knowledge gap that exists regarding blockchain in the financial world by creating their own quasi-cryptocurrency called the Learning Coin, announced April 13, 2019. Private Coins Since crypto has been successfully infiltrating the global financial markets, many...

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