Stablecoins and the exorbitant privilege of money creation
Payment stablecoins are set to become an important financial instrument. Their impact on the financial system will depend on whether the issuers can purchase assets
Multi-issuer stablecoins: A threat to financial stability
Stablecoins – digital tokens pegged to fiat currencies – have emerged as a major innovation in crypto finance, with broad implications for payments and international
The financial sector and global dollar system
The current US administration’s approach to financial markets and institutions mixes familiar deregulatory policies with a range of other policies that are largely without precedent.
