Global banking body issues blunt warning on stablecoin boom

Stablecoins are a $320 billion illusion. Despite their name, they aren't actually money; they are just volatile ETF shares masquerading as currency. They lack the institutional trust needed for payments and serve primarily to bypass capital controls and erode the monetary sovereignty of emerging nations. To survive, they must be stripped of their independence and anchored to central bank reserves. Are stablecoins a breakthrough, or just a dangerous threat to global stability?
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