IMF proposes to do a surveillance against cryptocurrencies
The organism aims to be able to achieve a transition towards the digital economy in a complete and far-reaching way
The International Monetary Fund (IMF) called for intensifying supervision over digital currencies in order to create a “comprehensive and far-reaching transition” to a digitized economy.
“Rapid technological innovation is ushering in a new era of public and private digital money. Payments will be easier, faster, cheaper and more accessible, and will cross borders quickly. These improvements could foster efficiency and inclusion, with significant benefits for all”, indicates part of the document prepared by the IMF.
All this of course can be carried out only if the body can “keep up with the political challenges” that surround cryptocurrencies.
The fund plans to work with institutions “consistent with its mandate,” such as central banks, regulators and the World Bank, while expanding its own research on digital money.
The organization will focus on central bank digital currencies, stablecoins, and crypto assets, among others. It will examine how these assets represent financial independence, can act as reserve currencies, and how they can replace current payment systems.
K. Tovar
Source: Cointelegraph
