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Former PBoC Governor: Libra Would Be Trusted If Run by IMF

News The former head of People’s Bank of China (PBoC), Zhou Xiaochuan has argued that the Libra stablecoin would be more readily trusted if it were in the hands of an organization like the International Monetary Fund (IMF). Zhou is the longest-serving governor of China’s central bank to date, havi..

Bitcoin Has Already Reached 40% of Average Fiat Currency Lifespan

News Bitcoin (BTC) may only be ten years old, but it is about to match half the lifespan of the average fiat currency — while actually increasing in value. Average fiat dies in 27 yearsAs Bitcoin statistician and commentator Willy Woo noted on Oct. 18, the largest cryptocurrency has been around 40..

IMF Staff: Stablecoins Might Come to Rely on Central Bank Reserves

The International Monetary Fund (IMF), the 189-member international body focused on global monetary cooperation, is increasingly doing its homework on the possibilities of using blockchain tech to meld public and private banking — at least if a new blog from two of the organization’s top officials i..

Why Has Brazil’s Central Bank Included Crypto Assets in Trade Balance?

Expert Take Cross-border transactions on crypto assets are already relevant and have already had a considerable impact on the domestic economy of some countries. For example, last month, the Central Bank of Brazil (BACEN) reviewed the Brazilian Trade Balance for crypto assets with new classificati..

IMF Chief Christine Lagarde Encourages Open Cryptocurrency Regulation

News European Central Bank (ECB) president candidate and International Monetary Fund (IMF) chief Christine Lagarde stated on Sept. 4 that central banks and financial supervisors should protect consumers but also be open to innovation such as cryptocurrencies. Changes are opportunitiesDuring her op..

Why Regulation Is the Best Thing for Crypto

Opinion When we hear about holders of crypto being tracked down by the Internal Revenue Service, or that imprisonment is being considered for anyone using crypto in India, it conjures up a disconcerting image of what regulation might entail. It’s part of crypto’s DNA to be unregulated, some might..

Brazil Central Bank Adopts IMF Guidelines for Crypto Classification

News The Central Bank of Brazil has moved to classify bought or sold cryptocurrency assets per International Monetary Fund (IMF) guidelines. Brazil’s central bank announced its decision on Aug. 26. With the new classification under IMF standards, traded cryptocurrencies will be classified as non-f..

Central Banks Worldwide Testing Their Own Digital Currencies

Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. Ind..

IMF Chief Economist Urges Regulatory Vigilance on Libra

News The International Monetary Fund (IMF) has called on global regulators to pay attention and take proper regulatory action regarding Facebook’s Libra. Speaking with Reuters on July 17, Gita Gopinath, chief economist at the IMF, urged the global regulatory community to pay serious attention to F..

IMF: Network Effects Could Spark Blaze of Digital Money Adoption

News The International Monetary Fund (IMF) has argued that network effects could spark the blaze for the mass adoption of new digital monies. In a fresh report published on July 15, the IMF aims to create a conceptual framework for categorizing new digital monies such as Facebook’s Libra and stabl..

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