US stablecoins pose ‘severe risks’ to monetary sovereignty – paper
Assets threaten stability in eurozone and global south, authors find
The drive by US president Donald Trump’s administration to popularise stablecoins internationally threatens financial stability and other countries’ monetary sovereignty, a new paper argues.
Published on June 18 by the European Parliament’s economic and monetary affairs committee, it says the US is pursuing a “cryptomercantilist” policy that promotes the use of its national assets and currency abroad via digital payments.
The authors – Jens van’t Kloooster, Edoardo Martino and Eric Monnet – say
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