The head of the International Monetary Fund (IMF) said efforts were underway to create a synchronized globally interoperable platform for advancing central bank digital currency (CBDC) efforts.
Speaking at a conference in Rabat, Morocco, Kristalina Georgieva said efforts must be made to coordinate regulation on global settlements as digital payments become popular.
European Union (EU) Leading Western Governments’ CBDC Progress
According to Georgieva, 10 out of 14 countries have already expressed practical interest in CBDCs. She added that coordinated regulation must avoid settlement blocks that will fragment the global economy.
Learn how to send money across borders using crypto.
The EU is leading Western governments’ efforts to introduce a CBDC. Its executive arm will soon release new rules limiting the use of a potential digital euro.
The EU wants the European Central Bank to limit the digital euro’s role as a store of value to ensure financial stability.
Demonstrators protested against digital euro efforts in Amsterdam in mid-May. Fears of government
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Author: David Thomas
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