International Monetary Fund – Finance & Development, Sep 2025

The main theme is the impact of new technologies on finance, including stablecoins, tokens, and global financial dominance.

Key findings include how new technologies are altering capital flows and currency dominance, the importance of integrating technology into finance, and the need for public policy to guide these changes. Risks associated with centralization and concentration of power that could undermine the potential of technologies are also discussed. Additionally, there is a shift in entrepreneurial activity in the US from traditional centers to more rural areas.