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G20 Set to Crystalize Global Crypto Rules as India Wraps Up Presidency

[Aug 15, 2023 10:30 AM] G20 nations are set to crystalize crypto policies, the closest we may have come to globally coordinated rules for the industry. India has been at the helm of the efforts as the current president of the G20 and is likely to celebrate the progress…

Nigerian Currency Plunges to New Low, Central Bank Says the Naira Is Undervalued

[Aug 11, 2023 3:30 PM] The Nigerian currency continued its slide versus the greenback when it fell to a new all-time low of NGN950 per dollar. Folashodun Shonubi, the acting governor of the Central Bank of Nigeria, insists that the naira is currently undervalued. The…

Argentine Peso Plunges to Historic Lows as Uncertainty Rules Before Elections

[Aug 8, 2023 2:00 PM] The exchange rate of the Argentine peso reached historic lows Monday in a decline that took its exchange rate to almost 600 pesos per U.S. dollar. Economists state that the uncertainty of the upcoming elections caused key bagholders to hedge their…

G20 President India Proposes ‘Action Points’ for Implementing Global Crypto Rules

[Aug 6, 2023 8:30 PM] The Indian Presidency of G20 has put forward proposals for a roadmap to introducing a global regulatory framework for crypto assets. India believes a more coordinated policy will be needed to enforce international standards in the field and…

India puts forward suggestions for G20 crypto roadmap

[Aug 2, 2023 2:44 AM] The country emphasises the necessity of dealing with digital assets’ risks for developing economies.

G20 President India Publishes Its Input for Framing Global Crypto Rules

[Aug 1, 2023 11:58 PM] As the current president of the Group of Twenty (G20), India has made public its presidency note on crypto in an effort to have its suggestions included in the framing of global crypto rules.

Latam Insights — Argentina to Complete IMF Payment With Chinese Yuan, Bolivia Also Using China’s Currency for International Settlements

[Jul 30, 2023 9:30 PM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese…

IMF Has Not Seen Specific Proposal on BRICS Currency

[Jul 15, 2023 10:00 PM] The International Monetary Fund (IMF) has not seen any specific proposal on a common BRICS currency. However, the IMF acknowledges the presence of “slow-moving trends” indicating shifts in the currency composition of reserves and trade…

Central Banks Controlling Money Is Not Democracy, Balaji Srinivasan Says

[Jul 12, 2023 5:30 AM] If central banks control all uses of money, this is not democracy, Coinbase’s ex-tech chief Balaji Srinivasan is convinced. The entrepreneur commented on statements by the head of the Bank of International Settlements during an IMF meeting devoted…

IMF sees climate change, DAOs, CBDC as threats to Marshall Islands, urges reforms

[Jul 11, 2023 2:45 PM] Entering the crypto economy is not a good idea for a country with “capacity constraints” and no central bank, the IMF thinks.

Latam Insights — Bolivia Calls for De-Dollarization, Reserve Drops Fiat Services

[Jul 10, 2023 2:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Bolivian President Luis Arce calls for de-dollarization at the Southern Common Market Summit, Reserve drops…

IMF Working Paper Urges Tax System Overhaul to Tackle Crypto’s Tax Collection Challenges

[Jul 7, 2023 2:30 AM] A research paper published by the International Monetary Fund (IMF) warns that tax collection is significantly more challenging with cryptocurrency assets, and current tax systems are not designed to handle them. The IMF’s working paper…

IMF eyes tens of billions in crypto asset taxes, has few suggestions for collecting them

[Jul 5, 2023 2:00 PM] Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it.

Latam Insights — Argentina Settles IMF Payment in Yuan; Brazilian CBDC to Be Launched in 2024

[Jul 3, 2023 2:00 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina settles part of its $44 billion debt with the International Monetary Fund (IMF) using the Chinese…

What is the International Monetary Fund, and how does it work?

[Jun 30, 2023 8:17 AM] Explore the IMF’s objectives, governance structure and key functions in promoting global financial stability.

IMF Boss: Supporting Egyptian Currency Akin to ‘Putting Water in a Bucket That Has Holes’

[Jun 27, 2023 1:30 AM] Kristalina Georgieva, the International Monetary Fund (IMF)’s managing director, has said Egypt needs to plug leakages of foreign reserves if it wishes to successfully support its currency. According to the IMF leader, Egyptian authorities…

Step Aside ‘Blockchain Technology’, IMF and BIS Have a New Crypto Buzzword

[Jun 26, 2023 11:19 AM]

Latam Insights — IMF States Latam’s CBDC Interest Rises, Lula Emphasizes Bretton Woods Institutions ‘No Longer Function’

[Jun 25, 2023 7:30 PM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the International Monetary Fund (IMF) reports interest in central bank digital currencies (CBDC) in Latam…

Crypto Ban May Not Be Best Approach to Balance Risk, Demand: IMF

[Jun 23, 2023 4:17 AM] The IMF recommended that countries focus on addressing the drivers of crypto demand and unmet digital payment needs in a post.

IMF Economists Say Countries Should Address Crypto Demand Drivers Instead of Banning

[Jun 22, 2023 10:00 PM] The International Monetary Fund’s (IMF) economists have cautioned that banning cryptocurrency “may not be effective in the long run.” Instead of outlawing crypto, they suggest countries should address “the drivers of crypto demand…

Banning crypto ‘may not be effective in the long run’ — IMF

[Jun 22, 2023 12:44 PM] After proposing a single ledger CBDC payment system, the International Monetary Fund reported on the regulation and use of digital currencies in Latin America and the Caribbean.

Expert Analysis: IMF Documents And XC Platform Raise Concerns For XRP

[Jun 22, 2023 12:30 PM] The IMF has often recognized crypto assets, especially Ripple (XRP), as instruments facilitating cross-border payments and remittances. Reuters reported that the International Monetary Fund IMF plans to launch a platform to facilitate CBDC…

Central Banks Propose CBDC, Stablecoin Standards With Amazon, Grab Running Trials

[Jun 21, 2023 8:26 AM] The Monetary Authority of Singapore (MAS), in collaboration with the IMF and other central banks, is proposing common conditions for retail payments with digital money on a distributed ledger.

IMF Working on Platform to Support CBDC Cross-Border Interoperability

[Jun 20, 2023 11:30 PM] The International Monetary Fund (IMF) is working to develop a platform that would serve as an interoperability layer for central bank digital currencies (CBDCs), allowing for settlements among different countries. According to statements from IMF…

BIS releases unified-ledger proposal for cross-border, tokenized asset transactions

[Jun 20, 2023 12:00 PM] Like the IMF’s single-ledger proposal released a day earlier, BIS’ unified ledger uses familiar concepts, such as tokenization, without the blockchain.

IMF Advances Global Central Bank Digital Currency Platform For International Transactions

[Jun 20, 2023 6:30 AM] The International Monetary Fund (IMF) is actively developing a global platform for CBDCs to facilitate seamless transactions across borders, announced IMF Managing Director Kristalina Georgieva at a conference in Rabat, Morocco.  Georgieva…

IMF envisions ‘new class’ of cross-border payment platform with single ledger

[Jun 19, 2023 11:30 AM] The XC platform could operate domestically using tokenized assets, including deposits, with or without CBDCs.

IMF Official Presents Blueprint for Cross-Border CBDCs

[Jun 19, 2023 7:00 AM] The international organization wants to help cut the cost of cross-border transactions, without abandoning compliance checks or capital controls.

IMF Urges Fed to Maintain Tightening Policy Amid Inflation Concerns, Citing ‘Challenges’ Ahead

[Jun 9, 2023 8:00 AM] On Thursday, International Monetary Fund (IMF) spokesperson Julie Kozack urged the U.S. Federal Reserve and several other central banks to maintain a restrictive monetary policy known as tightening. Kozack stated that the U.S. central bank may need…

India's RBI Intends to Push G-20 to Focus on Crypto's Macro Risks

[May 30, 2023 6:02 AM] India's central bank is trying to expand the global narrative around cryptocurrencies beyond "financial stability and integrity to macro-financial and cross-sectoral implications and risks of crypto-assets.