Imf Wants To Restrain ‘wildlife’ Of The Money Market

The International Monetary Fund (IMF) said that the invasions of non-multilateral supervised currency, raising concerns about the chaos in the Global Financial System.02: 00/2: 34 domain Male International Monetary (IMF) is wanting to curb the "wild" of the digital money market in the context of more than 100 types of central banks are planned and stablecoin and types Others are becoming more and more popular. Strong rising momentum of the market, IMF warned, electronic money is unexpectedly popular with the appearance of coding, stablecoin, money National digital, ..

. encroaching money market and a remarkable point is "not multilateral monitoring", at risk of causing chaos in the global financial system. Fox for Gemini Electronics Trading Floor in New York (USA). (Photo: EPA-EFE) More than 100 countries plan to launch the central bank's digital currency while stable money and electronic money supported by assets are increasingly popular
Stablecoin (stable currency) is a digital currency developed on the blockchain platform and has a stable value. The price of StableCoin is anchored to another stable asset such as gold or legal money like USD, EUR ... IMF said, the value of StableCoin has increased 3 times in just over the past 6 months, from 25 billion USD 75 billion USD, while electronic money assets doubled from $ 740 billion to 1.4 trillion USD. Electronic money accounts are growing rapidly in many countries. Like many achievements in technology innovation, the introduction of digital money always has 2 sides, good and bad. But the development of these new institutions, is not something to give to the regulatory market. It comes to say that the new monetary form will release people from the diligence of bankers Trade, control of the central bank, the intervention of management agencies and escaping almost all currency restraint
Nigel Green, DevEe Group CEO for Investment Fund , Electronic money will be the path of the future, no matter who the winner or loss in the story proves to them, the last thing is that the concept of electronic money must be defined. "Thuy necessity It is to look further than the streaming of technology and the appeal of future payment services, thereby creating deeper policies before challenges ", Nigel Green expert analyzes. The currency is used for international transactions, such as billing and paying for imports, can be changed when digital money was born. IMF suggests that the dollar can strengthen the dominance position further, if it is available in digital form, with low cost and spacious user base. Another scenario is that the types of cash are developed based on the advantage of cost, reliability and ease of use. Tran Ngoc / (translation) according to SCMP

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