During a digital currency event yesterday, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, called for a sense of urgency in the transition to digital currency. She was talking during a joint event organized by three Korean financial regulators and the IMF.
At the same event, former Governor of Sweden’s Riksbank, Stefan Ingves, observed that central banks and legacy banks have been too slow.
“If you’re unable to engineer transaction efficiency, basically consumers and investors will use somebody else’s money. And then you are out of it and we cannot do monetary policy any more in the way we think about monetary policy,” he said.
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