Central bank digital currencies (CBDCs) featured prominently when global financial leaders met for this year’s World Bank Group and International Monetary Fund (IMF) joint Spring Meetings in the United States. Faced with emerging disruptive technologies like Bitcoin, their discussions also focused on how money and payments are taking on new forms throughout the world. There wasn’t any determined conclusion to the debates, but the IMF’s Christine Lagarde admitted that cryptocurrencies have shaken the established global financial order.
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50% Chance Sweden Will Issue CBDC in Next 10 Years
It is not surprising that CBDCs continue to be a topic of interest at the Spring Meetings, held this year in Washington D.C. from April 8-12. Lagarde, the managing director of the IMF, has in the past urged central banks to consider issuing digital currency to make transactions more secure. She argues that state-backed cryptocurrencies could satisfy public…