The Governor of the Bank of France François Villeroy de Galhau said that the world might see a strong central bank digital currency emerge in the next three years.
. Other guests included the governor of the Bank of Thailand Sethaput Suthiwartnarueput and Credit Suisse chairman Axel Lehmann.
During the discussion, Georgieva seemed to address the recent collapse of the Terra network, saying:"When somebody promises you 20% returns on something that is not backed by any assets, how would we call normally call this thing? We would call it a pyramid." She also argued that people should not be quick to classify everything in the"digital money" world in a negative way.
Speaking on stablecoins, she said:"Some of them deserve the name because they're backed by assets. And when they're backed by assets one two one they're really stable. I do feel for the people who lost money because part of the reason they lost money is not really being well educated on this new investment world."
The IMF managing director urged people to not miss out on the importance of the wider digital asset space, arguing that if properly regulated it could offer faster service, much lower cost and more inclusion.
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