University of Cambridge Starts Crypto Research Task With IMF, BIS

University of Cambridge Starts Crypto Research Task With IMF, BIS

The United Kingdom-based University of Cambridge has collaborated with some of the world’s top banking institutions and private firms to present a new project targeting cryptocurrency research. In this process, Cambridge Center for Alternative Finance (CCAF) has taken the initiative to bring more insights on the rapidly growing digital asset industry. CDAP with an aim … Read more

Cambridge University Launches Crypto Research Project with IMF, BIS

Cambridge University Launches Crypto Research Project with IMF, BIS

Cambridge University’s Centre for Alternative Finance (CCAF) has announced a collaboration with the International Monetary Fund (IMF), the Bank for International Settlements (BIS) and others to conduct crypto research. The collaboration, dubbed the Cambridge Digital Assets Programme (CDAP), aims to bring further insight into the growing digital asset industry. “The Cambridge Digital Assets Programme that … Read more

Crypto risks ‘destabilising’ emerging markets, says senior IMF official

Crypto risks ‘destabilising’ emerging markets, says senior IMF official

Sharp price swings in cryptocurrencies are causing “destabilising” capital flows in emerging markets, and the use of crypto in place of traditional currencies poses “immediate and acute risks”, according to a senior official at the IMF.“Crypto is being used to take money out of countries that are regarded as unstable [by some external investors],” said … Read more

As Bitcoin Tumbles, IMF Criticizes El Salvador’s Crypto Embrace

As Bitcoin Tumbles, IMF Criticizes El Salvador's Crypto Embrace

The International Monetary Fund urged El Salvador on Tuesday to end its recognition of Bitcoin as legal tender. Adopting a cryptocurrency in this way “entails large risks for financial and market integrity, financial stability and consumer protection,” the fund’s executive board wrote.The price of Bitcoin has fallen more than 50 percent from its peak in … Read more

IMF warns of crypto risks, suggests global standards

IMF warns of crypto risks, suggests global standards

NEW DELHI: The International Monetary Fund (IMF) has warned of the risks posed by cryptocurrencies, especially in emerging and developing countries, and suggested coordinated action to put in place global standards. “Determining valuation is not the only challenge in the crypto ecosystem: Identification, monitoring, and management of risks defy regulators and firms. These include, for … Read more

Govt asks IMF to relax Covid spending ceiling by $2b

ISLAMABAD: Pakistan has borrowed $3.1 billion in the past three months, including money for vaccine procurements, amid its requests to the International Monetary Fund (IMF) to relax the spending ceiling by around $2 billion for expenditures on mitigation of coronavirus disease. The request for upward adjustment of the budget limit ceiling by around Rs352 billion … Read more

IMF warns of the danger to the financial system from ‘disappearing’ crypto coins and the instability of stablecoins | Currency News | Financial and Business News

Bitcoin balloon

Bitcoin balloon Andriy Onufriyenko The IMF warned countries about the risks that came with the growing crypto space in a report Tuesday. More than 16,000 tokens have been listed on exchanges, but only around 9,000 exist today, the report said. The fund said stablecoins were vulnerable to volatility and investor runs despite being pegged to … Read more

Covid-19 demonstrated ‘power’ of government spending, says IMF

Covid-19 demonstrated ‘power’ of government spending, says IMF

The coronavirus crisis caused a much larger rise in public and private debt than the global financial crisis, the IMF said on Wednesday, as it highlighted a “great finance divide” between countries with access to finance and those without. The debt was generally put to good use during the pandemic, according to Vitor Gaspar, head … Read more