Policymakers and financial institutions may find guidance on how to boost the use of central bank digital currencies (CBDCs) in a new guide issued by the International Monetary Fund (IMF). September 21 saw the release of a report titled “Central Bank Digital Currency Adoption Inclusive Strategies for Intermediaries and Users”
On August 15, 2024, the International Monetary Fund (IMF) recommended a major increase in electricity taxes for cryptocurrency miners and AI data centers to address their carbon footprint. The IMF’s proposal suggests raising the electricity cost for crypto miners by 85%. They propose a tax of $0.047 per kilowatt-hour, potentially
One component of Nigeria’s economic reform package is a recommendation from the International Monetary Fund (IMF) to license international crypto exchanges. A recent report by the International Monetary Fund states that the goal of Nigeria’s effort to include crypto into its financial system is to solidify the country’s position in
In order to be eligible for $3 billion in bailout money, the International Monetary Fund (IMF) has mandated that the Federal Board of Revenue (FBR) of Pakistan impose a Capital Gains Tax (CGT) on investments in cryptocurrencies. The IMF suggested that Pakistan’s FBR tax cryptocurrency capital gains during the review
Thursday saw the release of a report outlining policy suggestions and guidelines for crypto regulation. This was from the International Monetary Fund (IMF) and the Financial Stability Board (FSB). India, as G20 president, has requested that the IMF and FSP create policy and regulatory frameworks. This is for a unified
G20, an intergovernmental forum supported by the FSB and IMF under the Indian Presidency, set to introduce the first global crypto regulations ahead of the next summit in September. This announcement comes after the G20 revealed global rules for crypto firms with no options. Adding to that, the RBI wants
The IMF is stepping up its support for Central Bank Digital Currencies (CBDCs) being developed by countries throughout the globe. According to Reuters, the IMF is working on a worldwide platform to improve CBDC interoperability. IMF Managing Director Kristalina Georgieva said on Monday that the platform will facilitate transactions between
In order to bring inflation under control, the International Monetary Fund (IMF) advises the Federal Reserve of the United States to maintain hiking interest rates for a longer length of time. The IMF also recommended that the Biden administration use stricter fiscal policies to bring down the national debt. Under
In a resounding display of unity, the Group of Seven (G-7) intergovernmental political forum has voiced its unwavering dedication to embracing the upcoming regulations for overseeing crypto assets set forth by the Financial Stability Board (FSB). Additionally, the G-7 has reaffirmed its support for the International Monetary Fund’s (IMF) guidelines
The International Monetary Fund (IMF) issued a final report on the economy of El Salvador on February 10, 2023. From January 30th to February 8th, the IMF conducted an Article IV consultation with the government of El Salvador. The IMF warns that “risks should be addressed” as it relates to
