International Stablecoin Flows, Capital Controls and Currency Crises - International Monetary Fund | IMF
International Stablecoin Flows, Capital Controls and Currency Crises - International Monetary Fund | IMF
Source: International Monetary Fund | IMF
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DW NOTE
The IMF is publishing research on stablecoin flows and capital controls — a sure sign they've noticed people using dollar-pegged tokens to route around failing currencies. When your central bank is burning reserves to defend an indefensible peg, Tether is the trapdoor. The paper will call this a "challenge to monetary sovereignty." Translation: we can't stop people from fleeing.