Session II: New forms of digital money and its impact on Strategy (Crypto Council for Innovation), Building a Web3 Digital Economy Markets Division (Bank of England)), The consultation paper (The digital pound: a new form of money for households and businesses?) Monetary and Capital Markets Department (IMF), Digital Money, an Overviewĭepartment of Economics at University College LondonĮconomic nature of bitcoin Money, new gold or speculative Ribarsky, Deputy Division Chief, Statistics This session will also consider the newįorms of money and payments and discuss its impact on Inclusion, but it can also lead to fragmentation,Ĭurrency substitution, and loss of policyĮffectiveness. Has opened the door to faster, cheaper, and moreĮfficient payments, potentially enhancing financial ![]() Session will discuss how the advent of technology hasĬhanged the form and means of payments. ![]() It has impacted allĪspects of life – with money being no exception. Session I: Digitalization and new forms of money and payments systems.ĭigitalization is pervasive. Regulation Reimagined: Insights from Professorĭouglas Arner, Kerry Holdings Professor in Law and RGC Senior Research Fellow in Digital Finance and Sustainable Development at the University of Hong Kong The Forum will explore (i) the new forms of money and payments, (ii) the implication for financial stability and monetary policy, (iii) the impact on financial inclusion and illicit financial flows, and (iv) how we can better measure the new forms of money and payments to support policymaking.įor questions regarding the conference, please email to Topīert Kroese, Chief Statistician and Data Officer, and Director (IMF Statistics Department) As digitalization continues to impact the future of money and the exchange of value, effective policy and regulation are needed to ensure a stable and equitable financial system. There are daily accounts of the rise and fall of digital currencies, stable coins, and other types of crypto assets, however there is little formal “accounting” of these new forms of money. Digitalization is also changing the way individuals and businesses interact with the financial system. Digitalization is pervasive. It has impacted all aspects of life – money is no exception. The theme of this year’s Statistical Forum is Measuring Money in the Digital Age. The Forum is a platform for policymakers, researchers, the private sector, regulators, and compilers of economic and financial data to come together to discuss cutting edge issues in macroeconomic and financial statistics and to build support for statistical improvements. executive action.Ĭlarification: This story has been updated to clarify that the move by President Biden was an executive action.The 11 th Statistical Forum of the International Monetary Fund (IMF) will take place in hybrid format (in person and virtually) in Washington, D.C. Prices of bitcoin surged above $42,000 Wednesday on optimism over the U.S. ![]() "This is a watershed moment for crypto, digital assets, and Web 3, akin to the 1996/1997 whole of government wakeup to the commercial internet," Jeremy Allaire, CEO of crypto firm Circle, said on Twitter.Ĭrypto investors appeared to agree. The company subsequently dropped plans for the service. The SEC threatened Coinbase with legal action over a product similar to BlockFi's which offered users interest payments on their crypto holdings. The penalty was part of a larger $100 million settlement which included payments to 32 states.Ĭoinbase has similarly run into trouble with the watchdog, though it managed to avoid punishment. Securities and Exchange Commission over allegations it violated securities laws with its retail lending product. Personal Loans for 670 Credit Score or Lowerĭelivery of the new policy agenda removes a key source of uncertainty for an industry that has already been rocked by numerous regulatory hiccups and scandals.Įarlier this year, crypto start-up BlockFi was hit with a record $50 million fine by the U.S. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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