June 23 (Cointime) - The IMF has highlighted the benefits of CBDCs, stating that they could lower remittance costs and improve financial inclusion. The organization also called for regulation of crypto assets to ensure their safe integration into the payment system.

However, the IMF emphasized that outright bans on crypto assets are not effective, and instead suggested addressing the drivers of crypto demand, such as unmet digital payment needs and improving transparency.

The report focused on CBDC adoption in Latin America and the Caribbean, where four countries ranked among the top 20 in global adoption of crypto assets last year. The IMF acknowledged the risks associated with crypto and advocated for robust regulations, while also highlighting the benefits of CBDCs in strengthening payment systems and increasing financial inclusion.