Monetary sovereignty in the age of stablecoins

2026

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This report examines the growing influence of stablecoins and their implications for monetary sovereignty, offering crucial insights for policymakers navigating the evolving financial landscape.

* Explores the rise of privately issued digital tokens and their challenge to traditional monetary order.
* Analyzes three potential regulatory pathways: ban, compete, and adapt, and their impact on monetary sovereignty.
* Discusses emerging use cases for stablecoins in retail payments and cross-border transfers, alongside the risks to monetary control.

Stablecoins, monetary sovereignty, digital currency, central banks, financial regulation

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