IMF in Panic Mode as the Public Favors Cryptocurrencies Over CBDCs

South Korea is planning to launch a pilot program for deposit tokens using CBDCs

In this program, the Bank of Korea will allow 100,000 individuals to purchase goods with deposit tokens issued by commercial banks

This move follows the IMF's call for the proactive adoption of CBDCs worldwide

Currently, 11 countries have launched CBDCs, while 120 are exploring the concept

However, the IMF has raised concerns about potential chaos in financial markets if cryptocurrencies were to replace CBDCs

The IMF's palpable fear hints at the transformative power of crypto.