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.
A spokesperson for the World Bank reportedly said there are too many ‘shortcomings’ in BTC for this to be something they would be willing to assist with in implementation.
The measures that RMI took to combat COVID-19 could adversely impact the economy, and issuing Sovereign legal tender would raise risks to monetary stability of Marshall Islands.
While the technology may deliver benefits for policymakers, there were many crises CBDCs could not fix, according to the International Monetary Fund.
The International Monetary Fund has been discussing digital money this week, dubbing it “special currency.”
The International Monetary Fund is exploring what digital currency is and the potential benefits it could provide.
Synthetic central bank digital currencies could offer the best combination for central banks exploring digital currencies.
The International Monetary Fund has told the central bank of the Philippines to begin collecting data from local crypto exchange users.
The International Monetary Fund has reportedly suggested that Georgia include the income from cryptocurrency-related activities in their annual foreign trade balance reports.
The IMF report said traditional money would face “tough competition and could even be surpassed” by cryptocurrencies.