After the El Salvadoran Parliament agreed to adopt Bitcoin as the country's second national currency alongside the US dollar, the new currency will be officially launched on September 7. The country has done most of the groundwork for the Bitcoin launch.
The International Monetary Fund (IMF) and the World Bank have been somewhat reticent about countries giving cryptocurrencies legal tender status or promoting their widespread use within their borders, but no one seems to be listening.
The International Monetary Fund (IMF), an organization working to secure financial stability globally, has repeatedly expressed its antagonism to the issuance and circulation of the Marshall Islands’ state-run digital money currency.
A bureaucrat at the International Monetary Fund (IMF), an organization working to strengthen worldwide financial cooperation, proposed a way for the central bank (CB) and private companies to jointly operate the CBDC.
A report published by the International Monetary Fund (IMF) outlines that 15 different countries are considering joining the global fintech trend and adopting central bank digital currencies (CBDC) as a method of payment. The IMF has emphasized two main reasons for such a decision in the report.
The International Monetary Fund (IMF) refers to digital currency just once in its 215-page World Economic Outlook for October 2018, but that reference is: "Continued vigorous growth of digital currency assets could form new vulnerabilities in the international financial system (IFS)."
Fluctuations in the cryptocurrency market continue to happen. Bitcoin’s price, as well as other cryptocurrency prices, have recently increased. The move is seen as a result of IMF boss Christine Lagarde’s new perspective on the blockchain technology behind digital currencies.
Cryptocurrencies are being called the future currency by some people or just an intermediary currency by others within the crypto community itself. There is no consensus right now on what the future role of cryptocurrencies will be in the world, but they are going to be huge, that’s for sure.