Reported about 14 hours ago
India's Chief Economic Adviser, V. Anantha Nageswaran, highlighted that the increasing popularity of U.S. dollar stablecoins may pose significant challenges to global monetary policy in the coming year. He noted that these stablecoins could affect monetary transmission and seigniorage benefits for countries. While stablecoins are gaining traction internationally, particularly due to favorable U.S. regulations, India's existing domestic payment systems may reduce their necessity compared to other advanced economies.
Source: YAHOO