IMF repeats warning on Marshall Islands’ fintech plans

Fund proposes Pacific island state could set up a ‘monetary authority’

Majuro, Marshall Islands

The International Monetary Fund has again warned the Marshall Islands that its attempts to encourage a digital assets sector are risky.

In a press release accompanying the fund’s Article IV review, published July 9, the lender cautioned “several fintech initiatives pose risks to financial integrity of the RMI [Republic of the Marshall Islands]”.

Staff were especially concerned about a 2022 law, the Decentralized Autonomous Organizations Act, which allows for the registration of digital assets

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