Elements Of Effective Policies For Crypto Assets
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Elements Of Effective Policies For Crypto Assets
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-23
Elements Of Effective Policies For Crypto Assets written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-23 with Business & Economics categories.
This paper aims to address questions by Fund members on how to respond to the rise of crypto assets and the associated risks. To frame the discussion, the paper defines and classifies crypto assets based on their underlying features and describes their purported benefits and potential risks. The paper presents a policy framework for crypto assets that aims to achieve key policy objectives such as macroeconomic stability, financial stability, consumer protection, and market and financial integrity. The framework outlines key elements that are necessary to ensure that these objectives are met. However, such a framework will not fix any underlying crypto design flaws (for instance, the lack of a credible nominal anchor, payments finality, or scalability).
Assessing Macrofinancial Risks From Crypto Assets
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Author : Ms. Burcu Hacibedel
language : en
Publisher: International Monetary Fund
Release Date : 2023-09-29
Assessing Macrofinancial Risks From Crypto Assets written by Ms. Burcu Hacibedel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-29 with Business & Economics categories.
Failures in the crypto space—including the fall of Terra USD and the FTX debacle—have sparked calls for strengthening countries’ policy frameworks for crypto assets, including by enhanced regulation and supervision. How have these heightened concerns about crypto assets been picked up in systemic risk assessment, and what can be done going forward? In this paper, we introduce a conceptual macrofinancial framework to understand and track systemic risks stemming from crypto assets. Specifically, we propose a country-level Crypto-Risk Assessment Matrix (C-RAM) to summarize the main vulnerabilities, useful indicators, potential triggers and potential policy responses related to the crypto sector. We also discuss how experts and officials can weave in specific vulnerabilities stemming from crypto asset activity into their assessment of systemic risk, and how they can provide policy advice and take action to help contain systemic risks when needed.
Selected Decisions And Selected Documents Of The International Monetary Fund
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Author : International Monetary Fund. Legal Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-12
Selected Decisions And Selected Documents Of The International Monetary Fund written by International Monetary Fund. Legal Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-12 with Business & Economics categories.
This volume is the Forty-Third Issue of Selected Decisions and Selected Documents of the International Monetary Fund. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents, to which frequent reference is made in the current activities of the Fund. In addition, it includes certain documents relating to the Fund, the United Nations, and other international organizations.
Republic Of Kazakhstan
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-04-24
Republic Of Kazakhstan written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-24 with Business & Economics categories.
Kazakhstan saw a significant increase in crypto mining in 2021 following a ban on mining in China. Volatility in crypto markets and energy shortages, coupled with a prohibition on the circulation of crypto assets in Kazakhstan, reduced the size of the market by the following year. While retail and institutional crypto holdings are limited, growing public sector experiments with distributed ledger technology, a pilot project to allow the circulation of crypto in the Astana International Financial Centre (AIFC), and mandates for crypto miners to store a proportion of their mining rewards in AIFC registered exchanges has the potential to increase the size of the sector. If incentives grow for users and firms to circulate crypto, the existing prohibition – which has dampened market growth, could become untenable. Although not a regulatory priority, the broad prohibition on crypto assets should be replaced by a robust regulatory framework, contingent on market growth, upskilling supervisors, and a globally coordinated move to implementing conduct and prudential regulation.
Principles Of International Economic Law 3e
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Author : Matthias Herdegen
language : en
Publisher: Oxford University Press
Release Date : 2024-07-04
Principles Of International Economic Law 3e written by Matthias Herdegen and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-04 with Business & Economics categories.
Herdegen's Principles of International Economic Law has established itself as a leading textbook in the field. This fully updated third edition covers areas of growing relevance in international economic law, including corporate social responsibility, challenges for WTO law, the impact of human rights and environmental law, and cryptocurrencies.
Japan
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-13
Japan written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-13 with Business & Economics categories.
This technical note reviews the functioning and effectiveness of the regulation, supervision, and systemic risk monitoring of fintech in Japan. It focuses on the institutional arrangements for fintech monitoring, as well as the approach that the Japanese authorities have taken to review the regulatory perimeter around fintech-related issues, noting regulatory amendments on digital payments, banking, and crypto assets most notably. On crypto assets, the note reviews the regulatory framework in Japan, and the approach of the Financial Services Agency (FSA) to licensing and supervision of crypto exchanges. The note sets out a series of recommendations to further strengthen the domestic regulatory, supervisory, and risk monitoring frameworks.
Taxing Cryptocurrencies
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Author : Katherine Baer
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-05
Taxing Cryptocurrencies written by Katherine Baer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-05 with categories.
Policymakers are struggling to accommodate cryptocurrencies within tax systems not designed to handle them; this paper reviews the issues that arise. The greatest challenges are for implementation: crypto's quasi-anonymity is an inherent obstacle to third-party reporting. Design problems arise from cryptocurrencies' dual nature as investment assets and means of payment: more straightforward is a compelling case for corrective taxation of carbon-intensive mining. Ownership is highly concentrated at the top, but many crypto investors have only moderate incomes. The capital gains tax revenue at stake worldwide may be in the tens of billions of dollars, but the more profound risks may ultimately be for VAT/sales taxes.
Central African Republic
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-02
Central African Republic written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-02 with Business & Economics categories.
Central African Republic: Selected Issues
Concepts Technologies Challenges And The Future Of Web 3
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Author : Lekhi, Pooja
language : en
Publisher: IGI Global
Release Date : 2023-08-29
Concepts Technologies Challenges And The Future Of Web 3 written by Lekhi, Pooja and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-29 with Computers categories.
Web3 is a term which refers to the third generation of the World Wide Web; it is a decentralized internet architecture that uses blockchain technology, smart contracts, and other decentralized technologies to create a more secure and transparent internet.Concepts, Technologies, Challenges, and the Future of Web 3 is led by researchers with a valuable mix of industry and academic experience. The book delves into the concepts of decentralization, trustlessness, and interoperability and explores the challenges of Web3, including scalability, security, and regulatory compliance. It examines the current and potential future use cases of Web3, such as decentralized finance, supply chain management, identity verification, and decentralized social networks. “The core building blocks of Web3” is not just for researchers, academics, and students in computer science and related fields but also for developers, entrepreneurs, and businesses looking to build applications and services in the Web3 space. It offers a clear understanding of the technical and conceptual frameworks underpinning Web3 and the challenges and opportunities in the decentralized web. Moreover, the book is valuable for policymakers, regulators, and legal professionals interested in understanding the regulatory frameworks and legal implications of Web3. It provides insights into the potential impact of Web3 on governance, regulation, and law, highlighting the need for new policy frameworks to address the challenges and opportunities presented by the decentralized web.
Rise Of Digital Money
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Author : Yong Sarah Zhou
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-25
Rise Of Digital Money written by Yong Sarah Zhou and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-25 with Business & Economics categories.
The departmental paper, "Rise of Digital Money: Implications for Pacific Island Countries," delves into the fast-evolving landscape of digital money in a diverse region of extremes in size, remoteness and dispersion, highlighting its significant macroeconomic and financial consequences. It provides an overview of the development of digital money and payment systems in Pacific Island Countries (PICs), assessing potential benefits and risks, with a focus on how they can harness digital technology to enhance financial inclusion and payment efficiency while minimizing risks. To this end, the paper also examines the prerequisites for successfully adopting various forms of digital money and proposes a strategic framework for policy decisions. The paper underscores the potential of digital money in advancing public policy goals, like financial inclusion and improved cross-border connectivity – given the specific characteristics of the region – while cautioning against the risks of rapid and inadequately regulated adoption. Accordingly, it advocates a gradual, well-informed approach, tailored to PICs' unique monetary and financial circumstances, including the presence of national currencies and the maturity of payment systems. Moreover, the paper suggests that a regional approach could help address capacity and scalability challenges in introducing new digital money forms and payment methods in PICs.