IMF Official Presents Blueprint for Cross-Border CBDCs

New platforms for cross-border central bank digital currencies (CBDCs) could be more efficient and safe, while still ensuring countries can impose compliance checks and capital controls, an official from the International Monetary Fund said on Monday. Tobias Adrian, director of the IMF’s monetary and capital markets department reckons one global CBDC platform that will allow for capital controls could cut payment costs – but such a vision is a far cry from crypto enthusiasts' dream for decentralized financial systems. The new system, also outlined in an IMF Fintech Note published Monday.

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