Key Takeaways
- The fund aims to regulate the flow of digital currencies
- The regulation will prompt a better reliance for protection and users' anonymity
- Policymakers must address key challenges to make it work.
In a documented announcement issued yesterday, 29th of July, the financial organization stressed the importance of enhancing its resources as it seeks to monitor and provide advice and assistance to manage the complex transformation of this category of currencies.
IMF acknoweledged that digital currencies have the potentils to make payments faster, less expensive and available. It also noted that digital currencies can also provide reliable and safe payment transactions within local economies.
The financial organization further added that it has a critical role to help member countries exploit the benefits and manage risks associated with crypto currencies. "The IMF has an important role to play in helping member countries enjoy the benefits of digital currencies and manage their risks,"
