Stablecoins could trigger taxpayer bailouts, warns Nobel economics laureate
Digital tokens perceived as safe assets come with hidden risks for retail investors, says Jean Tirole
Related reading
Stablecoins can support financial safety
Fears that they make it easier for criminals to move money around are based on a misconception
Why we should worry about the rise of stablecoins
Asset-backed digital currencies could pose risks to bedrock of global financial system
The dangers of stablecoins
They are no substitute for money, even if usage is growing fast
Stablecoins ‘perform poorly’ as money, central banks warn
BIS says they fail crucial tests for a sound currency and are exploited by criminals
The stablecoin loophole that could expose the EU
A regulatory framework must be established for tokens issued both inside and outside the bloc
The stablecoin stumbling block
The crypto tokens are not yet safe enough to be used at scale in the settlement of large, wholesale financial transactions