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Digital currency: the IMF and the FSB want to prevent cryptoassets from undermining macroeconomic and financial stability

11/09/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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A calendar was presented last Thursday, September 7, by global financial regulators and the International Monetary Fund. This is a timetable that will allow them to coordinate measures to prevent cryptoassets from undermining macroeconomic and financial stability

.

At this weekend's G20 in New Delhi, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) presented a “roadmap” to the Sherpas of Finance Ministers. Their aim is to coordinate measures aimed at preventing cryptoassets from undermining macroeconomic and financial stability. According to the two financial organizations, “the widespread adoption of cryptoassets could harm the effectiveness of monetary policy, circumvent possible capital control measures, exacerbate fiscal risks, divert available resources to finance the real economy and threaten global financial stability

.”

They believe that the announced benefits of cryptoassets, such as cheaper and faster cross-border transactions and greater financial inclusion, have not yet materialized.

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