The head of the International Monetary Fund (IMF), Christine Lagarde said that the international community should consider endorsing central bank issued digital currencies (CBDCs), according to the public statement during Singapore Fintech Festival.
Lagarde pointed out that despite being not entirely convinced on the concept and nature of cryptocurrencies, there may be a case for governments of different countries to issue government-backed tokens or similar assets.
“I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy,” said Christine Lagarde during Singapore Fintech Festival.
The head of the International Monetary Fund also noted that various jurisdictions are currently considering or starting out the implementation process of state-sponsored tokens and cryptocurrencies.
Earlier it was reported that The International Monetary Fund (IMF) has expressed its intention to use its ongoing research and experiments in the blockchain as a basis to define a vector for regulating the industry.
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