Christine Lagarde was nominated to succeed Mario Draghi as president of the ECB. These are the great news for the crypto community because she is the one who pushed for central banks to consider the notion of issuing digital assets.
IMF joins the World Bank to launch their own quasi-cryptocurrency. Despite Learning Coin does not hold any monetary value, it’s expected to facilitate a better understanding of the technologies underlying crypto assets.
Organized by IMF, “Money and Payments in the Digital Age” discussion included representatives from central banks and tech startups. Panelists shared their thoughts about how the economy is being reshaped by cryptos and other digital techs.
XRP has been pretty much asleep for a very long time and as we are approaching the end of 2018, the much-needed news about Ripple’s partnerships with major financial institutions have started erupting in the crypto-space.
The G20 countries will work towards establishing international taxation for cross-border payments as well as handling issues with money-laundering.
IMF’s Managing Director called for central banks digital currencies, stating that they could provide financial inclusion, security, and consumer protection, which can not be offered by the private sector.
Dong He, deputy director of the IMF’s Monetary and Capital Markets Department, published an article where he suggested that crypto assets may reduce demand for central bank money and proposed central banks create their own digitized assets.
Lagarde said that the same blockchain technology which underpins cryptocurrencies can be used to regulate cryptocurrencies and also track whether they are being used for any illicit activities.