{"id":311383,"date":"2021-07-29T21:00:00","date_gmt":"2021-07-29T18:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/imf-intends-to-ramp-up-digital-currency-monitoring\/"},"modified":"2021-07-29T21:00:00","modified_gmt":"2021-07-29T18:00:00","slug":"imf-intends-to-ramp-up-digital-currency-monitoring","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/imf-intends-to-ramp-up-digital-currency-monitoring\/","title":{"rendered":"# IMF intends to ‘ramp up’ digital currency monitoring"},"content":{"rendered":"

“# IMF intends to ‘ramp up’ digital currency monitoring <\/strong>”
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The International Monetary Fund, or IMF, plans to \u201cstep up\u201d its monitoring of digital currencies, according<\/a> to a report by\u00a0Reuters. This intent, as published<\/a> in an IMF\u00a0paper\u00a0Thursday, details how the fund plans to \u201cmanage this far-reaching and complex transition\u201d toward a digitized economy.<\/p>\n

\u201cRapid technological innovation is ushering in a new era of public and private digital money,\u201d the report reads, highlighting the benefits of digital assets. \u201cPayments will become easier, faster, cheaper, and more accessible, and will cross borders swiftly. These improvements could foster efficiency and inclusion, with major benefits for all.\u201d<\/p>\n

Related: <\/em><\/strong>IMF plans to meet with El Salvador\u2019s president, potentially discussing move to adopt Bitcoin<\/em><\/strong><\/p>\n

However, such implementations can only occur if the IMF can \u201ckeep pace with policy challenges,\u201d which require a deeper look into digital economies as a prospect. The fund plans to work with institutions \u201cconsistent with its mandate,\u201d such as central banks, regulators, and the World Bank while expanding its own digital money research.<\/p>\n

As disclosed in an April 2021 paper, the IMF plans to add five sets of experts to properly conduct research. Their skills include lawyers, digital risk experts, financial sector experts, fiscal economists, and data specialists. This set of skills should thoroughly cover research into the digital currency industry, the paper claims.<\/p>\n

The fund will target Central Bank Digital Currencies, or CBDCs, stablecoins, cryptoassets, and more. It will examine how these assets represent financial independence, can act as reserve currencies, and how they can replace current payment systems. <\/p>\n

Related: <\/em><\/strong>Steve Hanke warns BTC could \u2018completely collapse the economy\u2019 of El Salvador<\/em><\/strong><\/p>\n

Earlier this week, the IMF published a warning regarding El Salvador\u2019s recent Bitcoin law. While it didn\u2019t mention the country directly, the warning noted that \u201cgranting cryptoassets legal tender status\u201d could threaten local economies, not to mention the time-consuming process of citizens \u201cchoosing which money to hold.\u201d Conversely, the IMF went on record earlier this month claiming that CBDCs could provide the global financial system with a \u201cclean slate.\u201d<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# IMF intends to ‘ramp up’ digital currency monitoring ” The International Monetary Fund, or IMF, plans to \u201cstep up\u201d its monitoring of digital currencies, according to a report by\u00a0Reuters. This intent, as published in an IMF\u00a0paper\u00a0Thursday, details how the fund plans to \u201cmanage this far-reaching and complex transition\u201d toward a digitized economy. \u201cRapid technological…<\/p>\n","protected":false},"author":1,"featured_media":311384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNDE2MTcxZDAtZGQ3MS00NDM0LWE5YTEtZTU4OGFkYTJkZjUyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,75046,79786,76582,75159,74891,75606,90059,70934,4965],"class_list":["post-311383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-cbdc","tag-digital-asset","tag-digital-asset-management","tag-digital-currency","tag-ethereum","tag-imf","tag-el-salvador","tag-regulation","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=311383"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/311384"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=311383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=311383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=311383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}