Bahamas' central bank digital currency currently makes up about 0.1% of the country's money supply, prompting the IMF to recommend that the Caribbean country accelerate its CBDC education campaign and expand its capacity.
The International Monetary Fund says the move raises major legal and economic policy challenges, even as experts, political and economic leaders question the country’s ability to implement BTC payments.
The IMF recently released a report that Russia might have found a way to evade international sanctions stating that block reward mining activities could be used to evade economic boycotts.
Georgia’s central bank is working with the IMF on the regulations, which will include registration of VASPs, compliance testing, and AML control requirements.
The International Monetary Fund will extend Argentina a $45 billion loan deal, which the Senate approved recently, that includes a clause urging the gov’t to discourage digital currencies.
In this article, author Dr. Craig Wright highlights the current crisis of the Republic of Mozambique after it gained political independence from Portugal on June 25, 1975.
The IMF says that eNaira could raise financial inclusion to meet the ambitious target of 95%, but says Nigeria must be vigilant as it poses several risks.
The IMF says that El Salvador is at a heightened risk with its financial and market integrity, financial stability, and consumer protection, but President Nayib Bukele is unmoved.
Three officials from the IMF believe that the cross-border and cross-sector nature of digital currencies renders the varying national regulatory approaches ineffective.
In particular, the report links to risks of service disruption, hacks and other attacks on exchanges, and low levels of transparency in some markets.
Salvadorians have held their ground and rejected the imposition of BTC as legal tender, with fresh protests breaking out a week before Bitcoin Law takes effect.
There’s a need for digital payments across the globe, but adopting a decentralized digital currency is a shortcut that any country must not be tempted to take, the IMF stated.
