The head of the International Monetary Fund (IMF) has said the international community should “consider” endorsing central bank issued digital currencies (CBDCs) in a speech at the Singapore Fintech Festival Nov. 14. IMF managing director Christine Lagarde said that despite being “not entirely convinced” on the concept of cryptocurrencies more generally, there may be a case for states to issue government-backed tokens or similar assets. “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy,” she told the event. The comments come a day …

The International Monetary Fund (IMF) said it plans to use its ongoing research and experimentation with blockchain as an “anchor” for its future policy on the technology in comments Nov. 12. Speaking on a panel with Ripple CEO Brad Garlinghouse during the Singapore Fintech Festival 2018, IMF Deputy General Counsel Ross Leckow highlighted three areas the organization has been “active” in regarding blockchain, cryptocurrency and more. “The IMF is devoting a lot of attention to fintech and in particular to blockchain,” he told the audience, continuing: “But we think that it’s difficult to talk about blockchain without considering it in …

The International Monetary Fund (IMF) has warned the Republic of the Marshall Islands (RMI) about the risks of adopting a cryptocurrency as a second legal tender, according to an official press release published on September 10. In the report, the U.S.-based agency backed by the United Nations addresses the government of the Republic of the Marshall Islands, stating that the introduction of digital currency as an official form of legal tender will pose risks to the country’s financial integrity, as well as relationships with foreign banks. By adopting digital currency as a second official currency after the U.S. dollar, the …

International Monetary Fund (IMF) chief Christine Lagarde told CNNMoney yesterday, Feb.11, that regulation of cryptocurrencies is “inevitable” and necessary on an international level. When asked during an interview with CNNMoney emerging markets editor John Defterios, about the increasing popularity of crypto markets possibly being caused by a “starvation for high returns in the global markets,” Lagarde replied that the trend showed a “herd mentality” of those looking for high yield products as well as an element of speculation. Lagarde added that this trend was also fueled by “dark activity,” a reference to the potential for cryptocurrencies to be used for …