“Bitcoin may be called a coin but it’s not money. It’s not a stable store of value,” said Kristalina Georgieva, managing director of the International Monetary Fund.
Georgieva said some cryptocurrencies are more akin to a pyramid scheme for the digital age because they aren’t backed by real assets. But she said central bank digital currencies (CBDCs) supported by governments can, in fact, be stable.
François Villeroy de Galhau, a governor with the Central Bank of France,…