International Monetary Fund
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The Future of Currency in a Digital World
IMF F&D magazine explores the future of money, cryptocurrencies and central bank monetary policy in a digital world.
Fintech and Financial Services: Initial Considerations
A new wave of technological innovations, often called âfintech, â is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech might provide solutions that respond to consumer needs for trust, security, privacy, and better services, change the competitive landscape, and affect regulation. It combines a broad discussion of trends across financial services with a focus on cross-border payments and especially the impact of distributed ledger technology. Overall, the paper finds that boundaries among different types of service providers are blurring; barriers to entry are changing; and improvements in cross-border payments are likely. It argues that regulatory authorities need to balance carefully efficiency and stability trade-offs in the face of rapid changes, and ensure that trust is maintained in an evolving financial system. It also highlights the importance of international cooperation.
Virtual Currencies and Beyond: Initial Considerations
This paper discusses the potential benefits and risks posed by VCs and how financial regulators could approach them. The paper begins by explaining what VCs are, and how they work. It then examines key features and related developments in distributed ledger technologies underlying decentralized VCs, along with their potential use for financial development and financial inclusion. The paper subsequently discusses the policy and regulatory implications of VCs generally and concludes with a brief discussion of areas for future analysis.
Information Report On Behalf Of The Committee On Finance On Development Issues With Bitcoin And Other Virtual Currencies
Meeting on 23rd July 2014, under the chairmanship of Mr. Philippe Marini, president, the committee on finance heard a communication by Mr. Philippe Marini and Mr. François Marc, rapporteur général, on the questions raised by the development of the bitcoin and other virtual currencies.