The IMF to Develop Standards for CBDC Regulation

The IMF’s representative Bo Li announced that the organization is ready to assist central banks with the development of digital currencies (CBDCs), by providing a regulatory framework for them to follow.

Li confirmed that over 40 countries have already contacted the IMF for help in integrating CBDCs into their payment system, as well as for support in creating an effective regulatory framework.

Over the next four to five years, the IMF plans to create a document that contains both technical and legal guidance for central banks.

This document will help to ensure the successful implementation of CBDCs.