IMF proposes global standards for CBDC

The International Monetary Fund published a list of recommendations for all emerging markets and developing economies regarding the adoption of cryptocurrencies

The International Monetary Fund (IMF) recently published a series of regulations that are aimed at emerging markets and developing economies in terms of cryptocurrency adoption.

The IMF believes in the potential of digital assets as a tool to make payments between countries, faster and cheaper. The report attributes high returns, costs, the speed of transactions and the reduction of anti-money laundering (AML) regulations as the main drivers of the adoption of cryptocurrencies.

“Policymakers should implement global standards for crypto assets and improve their ability to oversee the crypto ecosystem by addressing data gaps. Emerging markets facing the risks of crypto should strengthen macroeconomic policies and consider the benefits of the issuance of digital currencies from the central bank”, indicates the agency.

The IMF report shows that the cryptocurrency market valuation expanded beyond bitcoin, along with a sharp rise in stablecoin offerings. Three years of IMF data suggests that the risk-adjusted returns of non-stablecoin crypto assets, such as bitcoin, are comparable to those of other mainstream benchmark indices, such as the S&P 500.

K. Tovar

Source: Cointelegraph

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