The International Monetary Fund expects to play a crucial role in the transformation of digital currencies

A document released by the International Monetary Fund says it will need to bolster its resources as it seeks to “monitor, advise and help manage the large-scale and complex transition” toward digital currency.

The document stated that “digital currencies are able to facilitate, speed up payments and reduce costs, but this requires policy makers to address major challenges, digital money should be reliable, and domestic economic and financial stability must be protected, and the stability of the international monetary system.”

The document does not focus on cryptocurrencies such as Bitcoin, nor does it take a position on which type of digital currency might eventually dominate.

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