Crypto
IMF warns local-currency stablecoins may boost demand for dollar-pegged tokens
The International Monetary Fund warned that local-currency stablecoins could increase demand for dollar-linked tokens rather than reduce reliance on them. IMF First Deputy Managing Director Dan Katz said that if local and dollar stablecoins run on the same blockchain infrastructure, users could more easily move funds into digital dollars. He said on-chain currency conversion could bypass banks and money changers, reducing frictions used to monitor capital flows.
