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Fed Drags Feet as Digital Money Revolution Tests Central Banks

Oct. 16, 2019, 3:20 PM

When finance ministers and central bankers come to Washington this week, the International Monetary Fund has a message for them: Digital currencies are on your doorstep. Get involved.

“In the U.S., and other countries around the world, it is just a matter of time before we see massive disruption,’’ Tobias Adrian, the director of the IMF’s monetary and capital markets department said in an interview. “There is at least the potential that new technology might lead to a new global payment system fairly rapidly.”

The G-7 on Thursday will release broad guidelines for regulating digital money. They will also ...