IMF will study the risks and benefits of digital currencies – Bits Media

International Monetary Fund (IMF) expressed readiness to carefully study the cryptocurrency industry together with other regulators, to ensure international financial and economic stability.

The IMF published a document, which refers to new political challenges, associated with the introduction of digital currencies. In reported indicated, that they have certain advantages - the rapid development of technological innovations opens up the "new era of state and private digital money".

The latest technologies can really simplify international payments, and also make them faster and cheaper. However, the successful introduction of digital currencies will occur only in the case, If the IMF focuses on their deeper study.

For this, the IMF intends to work with central banks, regulatory authorities and the World Bank, and also conduct your own research. In particular, IMF will study options for using state digital currencies, Stebblecoins and ordinary cryptocurrencies.

Specialists will analyze, how digital currencies can ensure financial independence, Will they be able to act as reserve currencies, And what is the probability of that, that they will replace existing payment systems. For this, the IMF plans to organize five working groups, which will include lawyers, Risk assessment experts, as well as data in the field, finance and economics.

Recently, the IMF warned, that the recognition of bitcoin as a legal payment vehicle will jeopardize the local economy and will contribute to the growth of fraud. At the same time, the fund economists consider, that digital currencies of central banks will allow the global financial system to develop "from scratch".