Why the world should worry about stablecoins
Dollar-based digital currencies offer benefits for the US, but Britain and the EU are better off resisting them
Dollar-based digital currencies offer benefits for the US, but Britain and the EU are better off resisting them

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

Country risks missing next phase of mainstream adoption now under way

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

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

Growth of dollar-pegged crypto assets under Donald Trump risks accelerating dollarisation and enabling criminal misuse

Fears that they make it easier for criminals to move money around are based on a misconception