The Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis Paper of the International Monetary Fund and the Financial Stability Board. On Oct. 13, the Group of Twenty (G20) — an intergovernmental forum comprising 19 sovereign countries, the European Union and the African Union — unanimously adopted the “G20 Finance Ministers and…
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The first deputy governor at Banque de France calls central bank digital currency “the catalyst for improving cross-border payments.“ Representatives of Banque de France, the French central bank, have embraced the global perspective on the central bank digital currency (CBDC) discussion, touting it as the foundation of a new international monetary system. On Oct.3, Denis…
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The International Monetary Fund (IMF) published a working paper that highlights risk management strategies and policy changes for regulators. The paper titled, “Assessing Macrofinancial Risks from Crypto Assets” released on Sept 29 proposes a crypto-risk assessment matrix (C-RAM) for risk-prone nations to identify, prevent, and mitigate the effects on investors…. Read More: IMF Proposes Crypto…
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The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published their synthesis paper titled “Policies for Crypto Assets,” which was developed at the request of the Indian G20 Presidency. The global organizations “have set out a roadmap to ensure effective, flexible, and coordinated implementation of the comprehensive policy response for crypto-assets.” IMF,…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Coinbase is in ‘Final Stages of Selecting Its EU Hub Location’, Six Projects Get Investments from Base Ecosystem Fund, LBRY Appeals SEC-related Court Decision Read more »Sign up…
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The policy paper includes recommendations for regulating activities related to stablecoins and decentralized finance (DeFi). Update (Sept. 7, 2023, 11AM UTC): This article has been updated to add more information on the policy paper. The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published a joint paper containing policy recommendations at the request…
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The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies, those of member states in particular, such the South African rand and the Brazilian real. BRICS Development…
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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 International Monetary Fund (IMF) has said Nigeria’s “loose” fiscal and monetary policies are to blame…
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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 portfolios with foreign currency. However, analysts fear the effect this movement might have on…
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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. The Fund’s statement followed reports that the BRICS economic bloc is planning to launch a gold-backed currency. IMF on BRICS…
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