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SNB Warns Stablecoins Could Weaken Monetary Policy
Original: Stablecoins Could Harm Monetary Policy Transmission, SNB Says
The Swiss National Bank has cautioned that the growing use of stablecoins could interfere with how monetary policy is transmitted through the economy. If payments and savings shift toward dollar-pegged tokens, central banks may find interest rate changes have less effect on lending and spending. The warning adds a central banking voice to ongoing debate over regulating crypto-linked payment instruments.
Why now: Central banks are increasingly vocal about stablecoin risks as regulation and adoption accelerate.
Swiss National Bankstablecoins
Evidence
- Stablecoins Could Harm Monetary Policy Transmission, SNB Says · Bloomberg.com
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