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BIS warns stablecoins could undermine capital controls in emerging markets
Researchers at the Bank for International Settlements (BIS) have found that dollar-backed stablecoins are less constrained by capital controls than traditional bank deposits. The findings raise fresh concerns about monetary sovereignty in emerging markets, where governments could find it harder to manage capital flows if stablecoin adoption grows. The report adds to a wider debate about the systemic risks posed by dollar-denominated crypto assets.
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