Is there a case for regulating stablecoins?
Stablecoins Regulations
Authorities should proactively establish appropriate regulatory regimes for stablecoins rather than imposing outright bans. Since meaningful stablecoin exposure runs through regulated intermediaries, jurisdictions can monitor and control these assets to mitigate capital flight, banking disintermediation and financial instability while preserving beneficial innovation. With Ashutosh Jaiswal and Rogelio Mercado.