Credit and capital markets (Berlin), 2020, Vol.53 (2), p.159-185
2020
Details
- Autor(en) / Beteiligte
- Titel
- Financial and Monetary Stability Aspects of Global Stablecoins
- Ist Teil von
- Credit and capital markets (Berlin), 2020, Vol.53 (2), p.159-185
- Ort / Verlag
- Berlin: Duncker & Humblot
- Erscheinungsjahr
- 2020
- Link zum Volltext
- Quelle
- Duncker & Humblot eJournals
- Beschreibungen/Notizen
- Global stablecoins (GSCs) like Facebook's Libra could prove much more instable than they might appear at first sight. Not only can their exchange rates against individual fiat currencies fluctuate substantially; theoretically, they also have the potential to replace national currencies, constitute "digital currency areas" and become the basis of a two-tier banking system with one and more GSC issuers, on the one hand, and, on the other hand, commercial banks that can create GSC deposit money. Against that background, all steps taken so far by supervisors and central banks can only be the starting point of what is necessary to effectively regulate the new normal of the world of money that is emerging.
- Sprache
- Englisch; Deutsch
- Identifikatoren
- ISSN: 2199-1235, 2199-1227eISSN: 2199-1235DOI: 10.3790/ccm.53.2.159Titel-ID: cdi_proquest_journals_2600625826
- Format
- –
- Schlagworte
- Banking system, Blockchain, Capital markets, Central banks, Classification, Commercial banks, Crypto-Assets, Currency, Digital currencies, Foreign exchange rates, Initiatives, Libra, Macroeconomics, Regulation of financial institutions, Social networks, Stablecoins, Supervisors, Task forces, Trade, Virtual Assets, Working groups