IMF Warns Stablecoins Threaten Monetary Control

The International Monetary Fund (IMF) warns of potential risks with stablecoins, suggesting they could undermine governmental monetary control. The IMF prefers central bank money as the primary currency option. However, not all agree, with some arguing stablecoins and central bank digital currencies can coexist. The IMF also raised concerns about stablecoins being used for illegal activities, but acknowledges the potential for stablecoins to challenge traditional monetary control, potentially incentivizing governments to innovate.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.