Because cryptos are growing very fast, they are becoming more integrated with the financial system, the BoE's Jon Cunliffe said.

"We are not anywhere near done until the number one coin is a stablecoin," Emin Gün Sirer, CEO of Ava Labs, told Insider.

"Such a collapse is certainly a plausible scenario, given the lack of intrinsic value and consequent price volatility," Cunliffe said in a conference.

The IMF warned countries about risks that came with the growing crypto space, such as missing coins and volatile stablecoins, in a report Tuesday.

Investors will be watching for US consumer price inflation and minutes from the Fed's September policy meeting.

Around half the world's central banks are at "some stage" of looking into creating their own digital currencies, IMF chief Kristalina Georgieva said Tuesday.

The bitcoin law will affect local business, global investment, and daily life for Salvadorans. Yet it was passed hastily with just hours of debate.

President Nayib Bukele announced that El Salvador is installing bitcoin 200 ATMs and preparing over 50 bank branches ahead of September 7.

The IMF raised its growth forecast for advanced economies and lowered its outlook for developing nations, blaming uneven vaccine access for the gap.

CBDCs could shake up today's international payments systems, according to the World Bank, the IMF and the Bank for International Settlements.

The Biden administration's infrastructure, jobs and families plans are expected to boost the US economy, the IMF believes.

Alejandro Werner suggested to the Financial Times that an "underused" property tax on the richest citizens could help equalize wealth.

Trump's 2017 tax cuts weren't "rocket fuel" for job growth and productivity like he promised, but CEOs are fighting Biden's hike with similar claims.

Vaccines have been unevenly distributed, according to Bloomberg. The wealthiest countries are vaccinating at 25 times the rate of poorer countries.

On changes in the labor market, Powell said "it's important to remember we are not going back to the same economy, this will be a different economy."

The IMF used to be criticized for backing the interests of wealthy, developed countries and their major corporations, but now it's saying pay up.

Economists at the International Monetary Fund lifted their global growth forecast for 2021 to 6% from 5.5% on Tuesday.