{"id":140574,"date":"2021-10-03T06:29:13","date_gmt":"2021-10-03T06:29:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=140574"},"modified":"2021-10-03T06:29:13","modified_gmt":"2021-10-03T06:29:13","slug":"imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability\/","title":{"rendered":"IMF recommends CBDC and global crypto standards for financial stability"},"content":{"rendered":"

The International Monetary Fund (IMF) released a set of actionable policies for the emerging markets and developing economies to ensure financial stability amid global crypto adoption.\u00a0<\/p>\n

The IMF believes in the potential of crypto assets as a tool for faster and cheaper cross-border payments, citing the dramatic increase in the value of the crypto markets despite the bearish trends from May 2021. The report attributes high returns, transaction costs and speed and reduced Anti-Money Laundering (AML) standards as the primary drivers for crypto adoption. <\/p>\n

To counter the resultant financial stability challenges as a result of increased trading of crypto assets, IMF recommends:<\/p>\n

\u201cPolicymakers should implement global standards for crypto assets and enhance their ability to monitor the crypto ecosystem by addressing data gaps. Emerging markets faced with cryptoization risks should strengthen macroeconomic policies and consider the benefits of issuing central bank digital currencies.\u201d<\/p><\/blockquote>\n

The IMF report shows that the crypto market valuation has expanded beyond Bitcoin (BTC) along with a sharp increase in stablecoin offerings. Three years of IMF data suggests that risk-adjusted returns of non-stablecoin crypto assets such as Bitcoin are comparable to other mainstream benchmarks like S&P 500, as detailed in the figure below:<\/p>\n

<\/p>\n

Besides CDBC issuance, the IMF further recommends \u201cproportionate regulation to\u00a0the risk and in line with those of global stablecoins.\u201d In addition to CBDC implementation, de-dollarization policies will help governments tackle macro-financial risks.<\/p>\n

Related: <\/strong>IMF intends to ‘ramp up’ digital currency monitoring<\/em><\/strong><\/p>\n

Back in July 2021, Cointelegraph reported on the IMF\u2019s plan to \u201cstep up\u201d its monitoring of digital currencies. Highlighting the benefits of digital assets, an older IMF report read that \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

The IMF has also previously planned to meet Salvadoran President Nayib Bukele for discussing the implications and possibilities of mainstream Bitcoin adoption.<\/p>\n

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

The International Monetary Fund (IMF) released a<\/p>\n","protected":false},"author":3,"featured_media":140573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nIMF recommends CBDC and global crypto standards for financial stability - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF recommends CBDC and global crypto standards for financial stability - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) released a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-03T06:29:13+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/IMF-recommends-CBDC-and-global-crypto-standards-for-financial-stability.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability\/\",\"name\":\"IMF recommends CBDC and global crypto standards for financial stability - 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