IMF sug­gests banks to in­vest in cryp­tocur­ren­cies

Banking Frontiers - - Blockchain -

The In­ter­na­tional Mon­e­tary Fund has sug­gested that banks should con­sider in­vest­ing in cryp­tocur­ren­cies more se­ri­ously than they have in the past. IMF has brought out a note say­ing rapid ad­vances in dig­i­tal tech­nol­ogy are trans­form­ing the fi­nan­cial ser­vices land­scape and such trans­for­ma­tions gen­er­ate new op­por­tu­ni­ties for con­sumers as well as ser­vice providers and reg­u­la­tors. The note, pre­pared by an IMF staff team, lends sup­port for cryp­tocur­ren­cies, as it out­lines some of the ways that the fin­tech in­dus­try might be able to pro­vide so­lu­tions for con­sumers re­lated to trust, se­cu­rity, fi­nan­cial ser­vices, and pri­vacy in this area.

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