Wu Blockchain (@WuBlockchain): The IMF warned that stablecoins could cause “currency substitution” and weaken central bank control, especially in cross-border and non-custodial use.…
Estimated coin impact
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The IMF warned that stablecoins could cause “currency substitution” and weaken central bank control, especially in cross-border and non-custodial use. It said 97% are dollar-pegged and urged bans on using digital assets as legal tender. Stablecoin use is rising fast in Africa, the Middle East, and Latin America. U.S. Treasury Secretary Scott Bessent said demand supports U.S. debt financing. https://twitter.com/i/web/status/1996766899951292850