Stablecoins present threat to monetary sovereignty – WEF panel

Panellists discuss delicate balance needed between private and public sector regarding digital money

Addressing concerns: Facebook’s David Marcus said such initiatives were born out of a need to solve a problem

Maintaining sovereignty will be one of the biggest challenges that central banks face as they enter a new era of digital money, according to panellists at the World Economic Forum. 

Global stablecoins have the potential to challenge monetary sovereignty and change the way monetary policy works, said Valdis Dombrovskis, executive vice-president of the European Commission. “But I do not think we are at this stage yet,” he added. 

Dombrovskis was joined by policy-makers and private-sector

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