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15 février 2022
- 2202.07564
- Asian Economic Papers (2022): 1-18
Mots-clés
Economics - General EconomicsSujets proches
Digital currency Digital money Electronic banking Electronic check clearing Transfers of funds, Electronic Digital cash Electronic money systems Virtual money Telebanking Electronic transfer of funds EFT (Electronic funds transfers) Electronic payments systems Funds, Electronic transfers of Economic theory Political economyCiter ce document
Barry Eichengreen et al., « Stablecoins and Central Bank Digital Currencies: Policy and Regulatory Challenges », arXiv - économie
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Résumé
Stablecoins and central bank digital currencies are on the horizon in Asia, and in some cases have already arrived. This paper provides new analysis and a critique of the use case for both forms of digital currency. It provides time-varying estimates of devaluation risk for the leading stablecoin, Tether, using data from the futures market. It describes the formidable obstacles to widespread use of central bank digital currencies in cross-border transactions, the context in which their utility is arguably greatest. The bottom line is that significant uncertainties continue to dog the region's digital currency initiatives.