IMF Says Dollar Stablecoins Can Expand FX Access but Also Deepen Currency Crises - bloomingbit
IMF Says Dollar Stablecoins Can Expand FX Access but Also Deepen Currency Crises - bloomingbit
Source: bloomingbit
―
DW NOTE
The IMF spent a decade lecturing emerging markets on capital controls and exchange rate discipline. Now it concedes that dollar stablecoins — private synthetic dollars with no lender of last resort — can improve FX access while accelerating the same capital flight crises it used to parachute in to resolve. They have identified the problem and recommended doing it faster.