IMF working on common platform for central bank digital currencies to establish interoperability and common regulatory framework instead of fragmented national propositions
The International Monetary Fund is working on a platform for central bank digital currencies to enable transactions between countries, IMF Managing Director Kristalina Georgieva has said.
Failure to agree on a common platform would create a vacuum that would likely be filled by cryptocurrencies, she said. Already 114 central banks are at some stage of CBDC exploration,"with about 10 already crossing the finish line", she said."If countries develop CDBCs only for domestic deployment we are underutilising their capacity," she added.
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