The International Monetary Fund (IMF) is reportedly looking to bring its crypto asset supervision to the next level, as revealed via a published paper. 

Specifically, the freshly published IMF paper reportedly outlines the method the IMF is planning to employ to “manage this far-reaching and complex transition” to achieve a digitized economy, widening its scope to include every aspect of digital currency, and at the same time collaborating with associated financial entities. 

“Rapid technological innovation is ushering in a new era of public and private digital money. Payments will become easier, faster, cheaper, and more accessible, and will cross borders swiftly. These improvements could foster efficiency and inclusion, with major benefits for all.”  the report remarked. 

Nonetheless, that kind of implementation can reportedly happen should the IMF be able to handle policy issues, where a more thorough research of digital economies as a prospect is needed. 

The fund is reportedly going to collaborate with establishments that possess consistency “with its mandate”, nominally central banks, regulators, and the World Bank, and simultaneously widening the scope of its own digital money study. 

As revealed in a paper rolled out in April this year, the IMF is reportedly looking to onboard five extra sets of professionals, tasked with properly carrying out the research. Their skills include lawyers, digital risk experts, financial sector experts, fiscal economists, and data specialists, which would be able to cover the entire deep-dive into the digital currency sphere, per the paper. 

The fund will reportedly be focusing mainly on Central Bank Digital Currencies (CBDCs), stablecoins, cryptoassets, and more. It will run examinations on the way said assets can represent financial independence, function as reserve currencies, and become an alternative to the existing payment networks.