International Monetary Fund: Global Retail Central Bank Digital Currency Survey

The International Monetary Fund calls for stronger supervision of the African cryptocurrency market: On November 28th, the International Monetary Fund (IMF) called for stronger supervision of the African cryptocurrency market. It is reported that the African cryptocurrency market is currently the fastest growing market in the world. one. As a result of the FTX debacle and its knock-on effects on cryptocurrency prices, the IMF said it prompted renewed calls for stronger consumer protections and regulation of the crypto industry.

According to the International Monetary Fund, 25 percent of countries in sub-Saharan Africa have formally regulated cryptocurrencies, while two-thirds have implemented some restrictions. On the other hand, Cameroon, Ethiopia, Lesotho, Sierra Leone, Tanzania and the Republic of Congo have already banned cryptocurrencies, accounting for 20% of sub-Saharan African countries. Kenya, Nigeria, and South Africa have the most crypto users in the region. [2022/11/28 21:05:27]

The deputy governor of the central bank, Li Bo, will serve as the vice president of the International Monetary Fund. Li Bo will take up the position of vice president, effective from August 23. Li Bo is the current deputy governor of the People's Bank of China. He will succeed Zhang Tao. step down. Li Bo has only served in the central bank for three months. He previously called for stricter regulatory rules on encrypted assets such as stablecoins when he attended the Boao Forum for Asia. He believes that encrypted assets are an investment option, not a currency in itself, but an alternative investment. If cryptoassets are to become a widely used payment solution, they will need a stronger regulatory regime than what is currently in place for Bitcoin. [2021/6/29 0:14:10]

Voice | Streambed Media CEO: Fixing the International Monetary System Is a Big Opportunity for Blockchain and Encryption: Michael J. Casey, co-founder and CEO of video content-ethexc monetization platform Streambed Media, believes the traditional financial system is "broken," And "to help fix (the international monetary system), there is a huge opportunity for the crypto experts behind cryptocurrencies and blockchain technology." However, in response to the previous Bank of England governor's proposal to create a global digital currency to replace the U.S. dollar, Casey believes that the structure of a generally accepted cryptocurrency will be different. It will not involve "buying bitcoin" and people should more Focus on digital currency interoperability rather than developing a global currency from scratch. He added: "We need a decentralized trading system through which businesses in different countries can use smart contracts to create automated escrow agreements and protect themselves from exchange rate fluctuations... in order to develop a more A sound financial system, it is recommended that central banks around the world work together to gradually introduce digital currencies. In any case, the disruptive technologies behind digital currencies, stablecoins, and decentralized exchanges will be developed. This is a ticking time bomb.”( EWN)[2019/9/2]

News | The International Monetary Fund released a paper "The Rise of Digital Money": On July 15, the International Monetary Fund (IMF) released a paper entitled "The Rise of Digital Money" (The Rise of Digital Money). Written by Tobias Adrian and Tommaso Mancini Griffoli. The abstract of the paper mentions: The paper explains the benefits and risks of stablecoins and highlights the regulatory issues that may arise with the wider adoption of stablecoins. The paper also highlights the risks associated with electronic money (e-money, which the paper interprets as: denominated in and pegged to a currency such as the euro or dollar, storing currency value in electronic form): the possibility of new monopolies threats to consumer protection and financial stability, and the risk of fostering illicit activity. [2019/7/16]

The International Monetary Fund, the Bank of England, and Hong Kong all stated that they have no plans to issue cryptocurrencies: according to bitcoin.com, the Deputy Director of the Monetary and Capital Markets Department of the International Monetary Fund stated that cryptocurrencies may have a negative impact on the future demand for central bank money , the central bank must adapt to the changing financial environment brought about by encrypted assets. Bank of England Governor Mark Carney said he is optimistic about the prospect of the central bank issuing a cryptocurrency, while the Bank of England currently has no plans to develop and issue a cryptocurrency. In addition, the Secretary for Financial Services and the Treasury of the Hong Kong Department of Finance stated that the Monetary Authority currently has no plans to issue cryptocurrencies, but will continue to observe international developments. [2018/6/3]

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