IMF warns banks must evolve or be ‘left behind’ amid the rise of digital money
“The Rise of Digital Money” noted that cash and bank deposits, which are currently the most common forms of money, will “face tough competition.”
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China unveils central bank digital currency plans, sparked by Libra
China’s central bank digital currency is a go, China Daily reports. The program has been approved by the State Council and is now moving forward.
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Will Libra be the first global currency?
In short, Libra is no less than Facebook’s ambitious plan to create a global currency that makes it easy for anyone to send money all over the world.
Don’t forget, the ATO wants to tax your Crypto
The Australian Tax Office recently declared its intention to target crypto traders who are avoiding paying the proper amount of tax.
The spectre of cryptocurrency is spurring banks into action
Goldman Sachs is weighing the idea of launching a cryptocurrency of its own, CEO David Solomon said late last week.
Central banks should issue digital currencies of their own
Because digital money is naturally cross-border, it opens the way to new forms of currency competition, from Libra among others.
