In a new report, the International Monetary Fund recommends the use of CBDC and global regulation of crypto assets as measures to maintain financial stability.
The IMF believes that CBDC and global standards forcryptocurrency ecosystems can help the economies of emerging market and developing countries. In particular, the high speed and low cost of cross-border payments can improve the financial system of these regions and help combat money laundering.
The document recommends that regulators implement globalstandards for cryptoassets (especiallystablecoins) and expand their capabilities for monitoring the cryptoindustry. The IMF is also advising emerging market countries to consider the prospects for issuing a central bank digital currency to reduce the impact of cryptocurrency market risks on the financial system.
Among other things, the report provides an assessment of the risk-adjusted level of profitability of the cryptocurrency market. Over the past three years, it is comparable to the S&P 500.
Let us remind you that by the end of 2022 the G20 countriesTogether with the International Monetary Fund, the World Bank and the Bank for International Settlements, they plan to develop uniform control standards and rules for the circulation of digital currencies of central banks.
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