2023 MOEF-BOK-FSC-IMF International Conference on Digital Money: Navigating a Changing Financial Landscape
Seoul, South Korea, December 14 - December 15, 2023
December 13, 2023
IMF Conference
Global Financial Markets Confront the War in the Middle East and Amplification Risks
The growth of digital money in recent years underlies many purported benefits that can boost productivity and improve economic outcomes. Prospects of greater efficiency, lower costs, and higher inclusion have the potential to enhance people’s access to financial services. Concurrent with the large interest, concerns about financial stability risks have surfaced, and the failures of important entities underscore the need for stronger consumer and investor protection along with better governance and regulation of crypto activities. As the debate between the benefits and risks of digital money crystalizes, policymakers are called to decide on strategic policy choices and regulatory paths.
In this context, the Korean Ministry of Economy and Finance, the Bank of Korea, the Korean Financial Services Commission, and the International Monetary Fund are hosting the 2023 MOEF-BOK-FSC-IMF International Conference on December 14 to 15 under the theme of Digital Money: Navigating a Changing Financial Landscape.
The conference will provide a forum to discuss opportunities and challenges from digital money with distinguished policymakers, academics, and market participants from around the world. Expert panel discussions will cover many topical issues around the adoption and integration of digital money in the global economy, approaches to crypto regulation, prospects for use cases of digital money, and the future role of central banks for digital money, among others.
|
DAY 1: Thursday, December 14, 2023 (Time shown below is in South Korean local time: GMT +9) |
||
| 9:00 – 9:40 AM |
Organizers’ welcome and opening speeches | Watch Replay
|
|
|
9:40 – 11:00 AM |
Panel discussion 1 | Watch Replay Digital Money and its Role in the Global Economy: Opportunities and Challenges A high-level discussion on the impact of digital money on the monetary system, trade, financial services, and the broader economy. The catalytic role of technology and innovation brings enormous opportunities, including potentially low-cost and fast transfers and transactions, scalability and security, and new applications, but it also calls for a careful consideration of the implications for financial stability, privacy, and trust. Panelists:
Moderator: Haslinda Amin, Bloomberg |
|
|
11:00 – 11:20 AM |
Coffee Break |
|
|
11:20 AM – 12:35 PM |
Panel discussion 2 Prospects for the Use Cases of Digital Money This panel will discuss potential use cases for digital money, including payment systems, financial inclusion, crypto assets, tokenization, and government applications. Speakers will share their insights on the regulatory and technological frameworks required to ensure these use cases proceed safely and allow the sustainable and safe adoption of digital money in the global economy. |
|
|
12:45 – 2:30 PM |
Luncheon |
|
|
3:15 – 3:30 PM |
Coffee Break |
|
|
3:30 PM – 5:00 PM |
Panel discussion 3 Crypto Regulation: National Approaches and the Role of Standard Setting Bodies Progress in creating comprehensive regulatory perimeters and robust supervision for the crypto ecosystem is underway, and more lies ahead. Coordination among supervisors and regulators is ongoing. This session will summarize the major steps taken by the standard setting bodies and jurisdictions and discuss the role of standard setting bodies to reach a coherent and globally consistent treatment of crypto assets and activities. |
|
|
6:00 – 8:00 PM |
Cocktail Reception and Dinner |
|
|
DAY 2: Friday, December 15, 2023 |
||
| 9:00 – 9:40 AM |
Speech by BOK Governor Chang Yong Rhee on CBDCs | Watch Live |
|
|
9:25 – 10:40 AM |
Panel discussion 4 The Future of Money and the Role of Central Banks: View from Academia The evolution of money into the digital age will have implications for central banks and how they achieve their mandates. Across monetary policy, financial intermediation, financial regulation and supervision, as well as capital flow issues, digital money has the potential to complicate the operations of central banks and monetary authorities. This session will bring together academic experts to share their insights and findings. |
|
|
10:40 – 10:55 AM |
Coffee Break |
|
|
10:55 AM – 12:10 PM |
Panel discussion 5 Stablecoins and CBDCs: Symbiotic or at Odds? A panel discussion on the practical considerations of the coexistence of privately issued stablecoins and CBDCs will feature views on their interoperability, function, and applications from global experts from the private sector and monetary authorities. |
|
| 12:15 – 12:30 PM |
Speech on Digital Money by Nicholas Tabor, Deputy Assistant Secretary, US Treasury | Watch Live |
|
|
12:30 – 2:00 PM |
Luncheon |
|
|
2:00 – 3:15 PM |
Panel discussion 6 Cross-border Use of CBDCs The potential for fast, secure, and low-cost international transactions can offer substantial benefits to economic growth, trade, and financial inclusion. The panelists will discuss best practices and the lessons learned from domestic applications and pilots for cross-border transactions with CBDCs. |
|
|
3:15 – 3:30 PM |
Coffee Break |
|
|
3:30 – 4:30 PM |
Panel discussion 7 | Watch Live High Level Concluding Panel The panel will feature a perspective on the role central banks play in the digital economy, the benefits of innovation and risks to financial stability. Panelists:
Moderator: Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF |
|
