It Begins! IMF Releases Digital Currency Handbook for World's Central Banks
Central bank digital currencies can push the world away from depending on the U.S. dollar, the organization said.
The International Monetary Fund (IMF) released a handbook for global central banks regarding the development and implementation of central bank digital currencies (CBDCs).
In addition to de-dollarization, a CBDC “could increase risks of flight to safety from retail bank deposits in periods of market stress.” During times of market volatility, customers withdraw their deposits and move it into safe assets to avoid losing money in scenarios like bank collapses.