STABLECOINS INSTEAD OF DIGITAL DOLLARS?
The Digital Dollar project was launched in the United States in 2020. The study on introducing digital central bank digital currency was primarily motivated by the need to maintain dollar hegemony and increase the speed of remittances. The stablecoin will solve both problems, and data protection and cybersecurity will be the responsibility of the provider rather than the central bank, but it will not allow unwanted access by the state to customer data. Cryptoassets have emerged as a central theme of the 2024 election, in which the U.S. administration aims to make the country a centre of digital development. The two processes have converged on the point that both stablecoins and the digital dollar can ensure the U.S. dollar maintains its role as the leading means of payment. The analysis examines the characteristics of the digital dollar from the perspective of the U.S. financial system, the possible regulation of stablecoins, and the implications of the emergence of stablecoins for the subsequent introduction of the digital dollar.
Keywords: CBDC, digital dollar, stablecoin, payment stablecoin. .
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