IMF Backs Central Bank Digital Currenci…

Whether central banks should create their own-state backed cryptocurrencies received a somewhat surprisingly bold endorsement from the International Monetary Fund’s managing director Christine Lagarde this week. The former French finance minister's somewhat favorable stance in favor of such state-backed digital money stood at slight variance from the position of the Basel-based Bank of International Settlements (BIS), which has cautioned the global lenders of last resorts from entertaining such ideas.

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