IMF Warns Stablecoins Threaten Monetary Independence

The International Monetary Fund warns of potential risks from stablecoins, suggesting they could erode a nations financial independence by facilitating currency substitution. Rapid adoption of stablecoins, especially those tied to foreign currencies, could weaken central banks control over monetary policy. The IMF recommends countries implement regulations to prevent digital assets from being recognized as official currency to safeguard monetary independence.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.