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Can Bitcoin Usurp the Dollar? Not a Chance, Argues IMF Economist

2019 was arguably the year that Bitcoin entered the mainstream consciousness as a bona fide trend. You see, in June, Facebook unveiled Libra, a cryptocurrency project that its founders said was partially based on Bitcoin. The release of this digital asset led some of the world’s most prominent ind..

Though ‘Intriguing,’ Crypto Won’t Dethrone Dollar, Says IMF Economist

News Digital currencies have gained prominence over the last few years, although such options will not budge the U.S. dollar from its seat of prominence, according to chief economist International Monetary Fund (IMF) Gita Gopinath. “Improvements in payment technology may have lowered the cost of s..

IMF Urges Philippines’ Central Bank to Collect Crypto Exchange Data

News The International Monetary Fund (IMF) has encouraged the Philippines’ central bank to explore the possibility of starting to collect data on cross-border flows of crypto assets. The IMF made the recommendation in a Technical Assistance Report paper, released Dec. 30, 2019, and based on data f..

The Financial System of the Future — Who Benefits From CBDCs?

Opinion In recent months, the race for the development of a central bank digital currency is gaining pace. The last signal was launched by Chinese President Xi Jinping, who publicly stated the need to invest public resources in blockchain, slated to be the core technology of the future. The euphor..

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..

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