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Author Topic: IMF Plans to Tighten Control of Digital Currencies?  (Read 59 times)
asrinur (OP)
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August 01, 2021, 12:57:45 PM
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The International Monetary Fund (IMF) plans to step up its monitoring of digital currencies. These intentions, as published in an IMF paper detailing how the fund plans to manage this broad and complex transition to a digital economy.

source from Coin telegraph: https://cointelegraph.com/news/imf-intends-to-ramp-up-digital-currency-monitoring

So, what do you think if the IMF really tightens supervision of digital currencies, will it have an impact on the future development of digital currencies or vice versa ?

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August 01, 2021, 01:15:48 PM
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So, what do you think if the IMF really tightens supervision of digital currencies, will it have an impact on the future development of digital currencies or vice versa ?
It depends on the kind of impact you're talking about, mind you that the 'digital currencies' in question here is centralized digital currencies, mostly CBDC's, thus there's nothing new really, it's the same word "control" that the government and organizations like the IMF like, so there's definitely bound to be control over CBDC's, first from the issuing country, as well as from financial organizations. One part of this news that shows the government wants people to use CBDC's and not Bitcoin is this:
Quote
Earlier this week, the IMF published a warning regarding El Salvador’s recent Bitcoin law. While it didn’t mention the country directly, the warning noted that “granting cryptoassets legal tender status” could threaten local economies, not to mention the time-consuming process of citizens “choosing which money to hold.” Conversely, the IMF went on record earlier this month claiming that CBDCs could provide the global financial system with a “clean slate.”
First and foremost they are against countries adopting the Bitcoin technology like El-salvador, claiming that it threatens the development of their traditional financial institutions, I think the IMF is trying to be somewhat manipulative here, spotlighting Bitcoin as being negative and warning countries/governments to be hostile towards it, so their citizens do not hold Bitcoin instead of CBDC's. I think this manipulation from the government will continue, followed closely by regulations in a bid to deceive people that CBDC's are actually more useful and safe, but instead it's just going to be the same manipulated and controlled currency like paper money.

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