BUSD

According to a <a href="https://www.imf.org/en/News/Articles/2023/06/22/cf-interest-in-cb-digital-currencies-picks-up-in-latam-the-caribbean-while-crypto-use-varies" rel="noopener noreferrer nofollow">report</a> issued by the International Monetary Fund (IMF) on June 22, Central Bank Digital Currencies (CBDCs) could potentially enhance financial inclusion and reduce remittance costs. The IMF further emphasized the necessity for effective regulation of cryptocurrency to ensure its secure integration into the payment system.The IMF indicated that while some countries have outrightly banned crypto assets due to their associated risks, such an approach might not yield long-term efficacy. Instead, the agency suggested that regions should address the factors driving the demand for crypto. Unmet digital payment needs of citizens and the potential for improved transparency by including crypto asset transactions in national statistics are among these demand drivers.The report revealed an intriguing trend in Latin America and the Caribbean, regions leading the adoption of digital money. Countries like Brazil, Argentina, Colombia, and Ecuador made it to the <a href="https://triple-a.io/crypto-ownership-data/" rel="noopener noreferrer nofollow">top 20</a> in global crypto asset adoption last year. Per the IMF, these nations are seeking the benefits of digital assets, which include protection against uncertain domestic macroeconomic conditions, evasion of capital controls, and improved financial inclusion for the unbanked.Read full article at <a href="https://cryptotale.org/imf-critiques-crypto-bans-stresses-on-regulation-and-cbdc-benefits/" rel="noopener noreferrer nofollow">CryptoTale.</a>

IMF Critiques Crypto Bans, Stresses on Regulation and CBDC Benefits

CryptoTale

Other articles published on Jun 23, 2023

Binance’s Enhanced Compliance Efforts: Navigating Crypto Regulation

MagicCraft and OviO: A Powerful Integration Revolutionizing Gaming Rewards

Bitcoin Struggles Below $30,000 as BitGo Abandons Prime Trust Acquisition

Earn $100 a Day in USDT With The Caged Beasts Referral System

Breaking Barriers: Polygon 2.0 Unifies Megachains and Multichains

Historic Turnaround for Crypto with Giant Financial Players Entering the Field

Join our free newsletter for daily crypto updates!