The IMF's been warned that it might have bitten off more than it can chew as it leads the charge on CBDC policies, as McKinsey claims the tokenization market in 2030 will be worth a lot less than previous estimates. Iran, Ethiopia and South Korea in CBDC news.

While the population is "digitally savvy," data within the study suggests that encouraging consumers to switch to a CBDC may be an uphill struggle. Just 40% of payments in the Middle East and Central Asia were made digitally in 2021.

The authorities in Russia and Iran are discussing the creation of a stablecoin tied to gold. The "Token of the Persian Gulf region" will be used for cross-border payments, but first a legislative framework for regulating cryptocurrencies is required.