LockMeta
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
Twitter Telegram
LockMeta
Twitter Telegram
Google News
  • Latest News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
LockMeta
Altcoin News

Events in 2022 cast ‘serious doubts’ about stablecoins as money

February 22, 2023
Share Facebook Twitter Telegram WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

Agustin Carstens, general manager of the Bank for International Settlements (BIS), who has previously criticized stablecoins, said events in 2022 cast “serious doubts about the ability of stablecoins to function as money.”

Stablecoins are cryptocurrencies pegged to the value of other assets such as sovereign currencies and do not benefit from the regulatory requirements and protections that apply to bank deposits.

Carstens has previously criticized stablecoins amid widespread concerns that they could shift power in the monetary system from central banks to private entities “driven by profit.”

Instead, he praised tokenized deposits and central bank digital currencies that leverage related technologies and preserve the “trust” provided by public systems.

Previous ArticleVitalik Buterin’s Covid Relief Crypto Donation Originally Valuable at $1 Billion Realized Only $464 Million
Next Article Hong Kong virtual asset management company Artifact Labs to launch Titanic NFT and “Titanic DAO”

Related News

March 24, 2023

Data: The top five ARB buyers on the chain purchased a total of more than 13 million ARB

March 23, 2023

Misunderstood as Arbitrum (ARB), the dead project ARbit (ARB) rose abnormally in the past 7 days

March 23, 2023

Starknet Early Adopter Grants Council Launches First Round of Token Grants

March 22, 2023

Data: At least $5 billion has flowed into USDT in the past few weeks

March 22, 2023

Arbitrum anti-sybil rules have loopholes, 21.8% airdrops are allocated to 150,000 sybil addresses and at least 4,000 sybil communities

March 18, 2023

The Opendao (SOS$) team announced the upcoming release of a new project AI Dao Network, token (AOS$)

March 16, 2023

Swiss Banking Association Proposes Deposit Tokens on Public Blockchain

March 15, 2023

Angle Protocol: About $17.52 million of USDC was affected by the hacker attack, and DAO still holds nearly $20 million in tokens

The Latest
Altcoin News March 24, 2023
Data: The top five ARB buyers on the chain purchased a total of more than 13 million ARB
Business News March 24, 2023
CNBC discloses that Binance employees and volunteers guide users to circumvent KYC restrictions
Metaverse News March 24, 2023
Global Mofy Metaverse Limited plans to raise US$6 million through IPO
Market News March 24, 2023
President of El Salvador: A bill will be submitted to Congress to eliminate all taxes on technological innovation
Ethereum News March 24, 2023
Data: The total value of StarkNet bridge storage exceeds 20,000 ETH

LockMeta provides the latest crypto news flash including Bitcoin, Ethereum, Altcoins, NFTs, Metaverse, Business and Policy. Get today's latest crypto news in a minute.

Twitter Telegram
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
  • About Us
  • Contact Us
  • Advertise
  • Terms of Service
  • Privacy Policy
© 2023 LockMeta.

Type above and press Enter to search. Press Esc to cancel.