Stablecoins can support financial safety
Fears that they make it easier for criminals to move money around are based on a misconception
Fears that they make it easier for criminals to move money around are based on a misconception

They are no substitute for money, even if usage is growing fast

Asset-backed digital currencies could pose risks to bedrock of global financial system

The crypto tokens are not yet safe enough to be used at scale in the settlement of large, wholesale financial transactions

Central bank partly backs down after industry criticism over plan for digital tokens

BIS says they fail crucial tests for a sound currency and are exploited by criminals

Digital tokens perceived as safe assets come with hidden risks for retail investors, says Jean Tirole