New IMF Report on Stablecoin Risk Sparks Outrage From Crypto Experts
Amid an intensifying international focus on stablecoins, the International Monetary Fund (IMF) has released a 56-page report detailing what it sees as the key risks surrounding their adoption.
The report draws parallels from the claims many other central banks and international financial organizations make regarding the threat stablecoins represent to governmental monetary control, to ultimately argue in favor of Central Bank Digital Currencies (CBDC).
“Currency substitution facilitated by stablecoin adoption would impinge on monetary sovereignty, a country’s ability to exercise full control over its own currency and monetary policy,” the report released Dec. 5 stated. “Central bank money is the most basic, liquid and resilient form…
