Strategy needed to maintain monetary policy autonomy and financial stability, says Schaaf
A senior official at the European Central Bank has warned of the potentially detrimental impact of US-backed stablecoins on the eurozone’s monetary policy autonomy and financial stability.
In a blogpost published today (July 28) Jürgen Schaaf, an adviser in the ECB’s market infrastructure and payments division, writes: “In an era of rising geopolitical fragmentation and rapid digital innovation, stablecoins have emerged as both a symptom and a driver of change in the international monetary and
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