Bitcoin adoption won’t affect IMF talks, says El Salvador’s top central banker
The country’s central bank chief does not see the recent Bitcoin adoption move hampering plans to secure an IMF loan. Go to Source Powered by WPeMatico
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Economics Professor Warns ‘Cryptocurrencies May Contribute to Monetary and Financial Instability’
Cornell University’s professor of economics and former head of the IMF’s China division, Eswar Prasad, has warned that “Cryptocurrencies may contribute to monetary and financial instability.” He added that the risk is amplified if the industry is unregulated and lacks investor protection. Economist Sees Crypto Posing Risks to Financial Stability Eswar Prasad, the Nandlal P. … Read more
US Inflation Expectations Highest Since 2013, Gas Prices Skyrocket, Supply Chains Buckle
Americans are still concerned about dealing with inflation, as the cost of goods and services has continued to rise significantly in a short period of time. The Federal Reserve has published the latest Survey of Consumer Expectations report and U.S. households believe inflation will be up 5.3% one year from now. In addition to the … Read more
IMF reiterates more oversight for crypto in latest report on financial stability
The group identified the crypto space at risk from hacking, “lack of transparency around issuance and distribution” of tokens, and operational risks including outages during periods of extreme volatility. Go to Source Powered by WPeMatico
Law Decoded: Putting your Bitcoin where your mouth is, Oct. 4–11
Debt ceiling uncertainty erodes trust in the dollar, DOJ announcements the National crypto enforcement team, SEC investigates Circle. Go to Source Powered by WPeMatico
IMF Head Says Central Bank Digital Currencies Are Reliable, Hard to Think of Bitcoin as Money
Digital currencies backed by central banks are the most reliable form of digital money, according to IMF managing director Kristalina Georgieva. At the same time, to think of cryptocurrencies such as bitcoin as money is difficult, believes the chief executive of the international financial institution. IMF Chief Georgieva Marks Top Issues for Policymakers Exploring CBDCs … Read more
IMF managing director: 110 countries are ‘at some stage’ of CBDC development
Kristalina Georgieva said that stablecoins “fill the digital gap in privately issued money,” but labeled Bitcoin and other cryptocurrencies as assets rather than a form of money. Go to Source Powered by WPeMatico
IMF recommends CBDC and global crypto standards for financial stability
The fresh policies recommended by the IMF aim to curb down the financial risks associated with global crypto adoption. Go to Source Powered by WPeMatico
IMF Warns Crypto Boom Poses New Financial Stability Challenges, Urges Regulators to Step Up
The International Monetary Fund (IMF) warns that the rising popularity of cryptocurrencies poses new challenges to financial stability. “Cryptoization can reduce the ability of central banks to effectively implement monetary policy. It could also create financial stability risks.” IMF Sees New Challenges to Financial Stability From Crypto The International Monetary Fund (IMF) warned about the … Read more
El Salvador’s credit rating could take hit amid Bitcoin adoption warns S&P Global
S&P Global believes El Salvador’s recognition of Bitcoin as legal tender has brought “immediate negative implications” for its credit rating. Go to Source Powered by WPeMatico