IMF Asks Central Bank to Issue Cryptocurrency

**THE** International Monetary Fund (IMF) released a new paper weighing digital currencies to be supported by the central bank. According to the IMF it is too early to draw conclusions about its benefits because each country faces unique circumstances surrounding the use of cash and e-money adoption. The IMF Managing Director, Christine Lagarde, on an agenda in Singapore on Wednesday, 14 November 2018 asked central banks around the world to consider issuing their own digital money. This is in anticipation of the "historical turning point" about using digital money. At present there is a change in the nature of money because physical cash demand has declined throughout the world. The central bank has a role to supply money to the digital economy. Christine Lagarde said, even though publishing digital money is different from cryptocurrency. Digital currencies are tightly regulated and regulated by central banks in the same way as cash today. According to Christine Lagarde, digital currencies supported by the central bank can help promote financial inclusion, security and privacy in the payment system as a cheaper and more efficient alternative to paper notes. But he also warned of risks to financial stability and innovation. If the IMF has expressed an opinion like this, it will have an impact on the central bank's view of cryptocurency. Although actually so far it has been impressed that the central bank is "allergic" to cryptocurrency but accepts blockchain technology well. Hopefully there will be a bright future in the future regarding cryptocurrency regulation issued by the central bank. By @dsatria