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IMF head Kristalina Georgieva can’t think bitcoin as money, finds CBDCs reliable

 


Cryptocurrency has become very popular today. Many crypto enthusiasts search to find the best Bitcoin mining hardware and other topics. However, according to a recent crypto news report, IMF head Kristalina Georgieva has stated that central banks-backed cryptocurrencies can be considered the most trusted form of digital money. She finds it difficult to accept Bitcoin as money. During an event hosted by Italian University, she shared some facts. 


In her statement, she confirmed the exploration of CBDCs by around a hundred ten nations among the members of IMF. While addressing the audience, she revealed that the main concern for the financial authorities is assuring the use between the currencies. 


According to Kristalina Georgieva, the biggest challenge is to see whether the state-backed cryptocurrencies can find their best use for the medium of exchange in the public trust, as reported by Reuters. Policymakers might have to answer other questions related to the contribution of the Central Bank’s Digital Currencies towards the stability of the domestic economic structure. Another is whether they will fit into

 the regulatory frameworks internationally introduced by BIS (Bank for International Settlements, and other institutions. 


Brief about Kristalina Georgieva


Kristalina Georgieva is an economist from Bulgaria. She was born in 1953 on August 13. Since two years ago she has been serving as chairman and managing director of IMF (International Monetary Fund). She had also been the Chief Executive of the World Bank Group for two years. 


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