✉news BusinessBanking first seen 18 h ago, last 4 min ago, peak #2
Stablecoins seen reshaping banking and fiscal policy trade-offs
Original: Stablecoins and the macroeconomy: Bank disintermediation versus fiscal space
A new analysis from the Centre for Economic Policy Research examines how stablecoins could affect the macroeconomy, framing the debate as a trade-off between bank disintermediation and fiscal space. As dollar-pegged tokens grow, deposits could migrate out of the banking system, weakening lenders' funding while potentially increasing demand for government debt that backs these coins.
Why now: Policymakers and economists are actively debating stablecoin legislation and its systemic financial implications
CEPRstablecoinscommercial banks
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