Bitcoinist: Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF) has made a strong argument for the development of Central Bank Digital Currency (CBDCs). He asserts that as a new asset class they hold tremendous promise, notably for the developing world. Zhang discussed CBDCs in an address given at a conference hosted by the London School of Economics. He pointed to numerous advantages that these currencies can bring to the financial space, particularly by enabling
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