IMF Backs E-Money Reforms As Barrier To Tech Dominance
The International Monetary Fund (IMF) has backed moves to allow e-money providers to settle payments directly through central banks, touting the payments technology as a potential barrier to market dominance by technology giants.
“The ability to hold central bank reserves would fill the sails of e-money providers by allowing them to overcome market and liquidity risk,” an IMF paper published on Monday said.
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