TLDR Tech / Crypto
BIS warns USD stablecoins can evade capital controls
A Bank for International Settlements study of stablecoin flows across 130+ economies found dollar-backed stablecoins are largely unaffected by capital controls and FX restrictions, which the BIS says are less effective against stablecoins than against foreign currency bank deposits. The report warns emerging-market policymakers that stablecoin-driven dollarization is hard to reverse once established, as total USD stablecoin supply hit $292.6 billion, up from $253 billion a year earlier.
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