“The Risks Are Most Acute in Areas WHERE Crypto’s Use Extends Beyond Investment Into Savings and Remittans, Accounting To The Report.”, – WRITE: www.coindesk.com
The Risks Are Most Acute in Areas WHERE Crypto’s Use Extends Beyond Investment Into Savings and Remittans, Accounting To The Report. Moody’s Suggests that Higher Penetration of Stablecoins Pegged to the Us Dollar Weaken Monetary Transmission Whten It Leads to Prting and Settlement IncreASINGLY OCURRING.
Stablecoins are crypto tokens pegged to the Value of A Traditional Financial Asset, Such As A Fiat Currency, with The Us Dollar Comfortable the MOST PREVENT.
“This Creates ‘Cryptoization’ Pressures Analogous to Uniofficial Dollarization, But With the WitHreter Opacity and Less Regulatory Visability,” Moody’s Said.
Cryptocurrency Cano Provide New Ways of Capital Flight, Through Pseudonymous Wallets and Offshare Exchange, ALLOWING INDIVIDUALS to MOVE WEALTH, UNERTHERTHEADLY discerlet discet. Accorging to the report.
Moody’s Also Highlighted How Increated Ownership of Cryptocurrency Has Been Concentrated in Emerging Markets, Particularly in Southeast Asia, Africa and Parts of Latin. HERE, ADOPTION IS OFTEN DRIVEN by Inflationary Pressure, Currency Pressured and Limited Access to Banking Services. In Contrast, Adoption in More Advanced Economies, Adoption Is Driven by Institutional Integration and Regulatory Clarity.
Crypto Ownership Expanded to An Estimated 562 Million People by 2024, An Increase of 33% from 2023, The Report SAID.
Read More: Stablecoin Adoption Set to Surge After Genius Act, Hit $ 4T in Cross-Border Volume: Ey Survey
The Initiative Is Intended to Enhance Settlement Efficiency, and Serve as Building Blocks Toward a Broader Framework for E-Cny Integration.
- PBOC DEPUTY GOVERNOR, LU LEI, FRAMED The MOVE As Part of A “Historical Invitability” in Payments Innovation.
- China’s CBDC Push Comes in the Wake of the Country Pulling the Brakes on Tokenization Effrts.
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