BIS:Stablecoins Have Inadequate Fiat Mechanisms

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According to a new Bank for International Settlements (BIS) report, stablecoins lack the “mechanisms” to maintain stability. Written by the Monetary and Economic Department of the BIS, the report considered stablecoins from a money market perspective. By comparing on-chain transactions, the world’s central bank deliberately created an “alternate universe” where stablecoins and their underlying infrastructure […]

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