IMF has no mandate for SDR stablecoin, says Tobias Adrian
Fund’s capital markets head says backstops are also crucial if instruments are to live up to their name
Tobias Adrian, the director of the International Monetary Fund’s monetary and capital markets department, says the institution does not have a mandate to operate a stablecoin pegged to its special drawing rights.
“It’s not something where the IMF would have a clear mandate at the moment,” he tells Central Banking. “Of course, the membership can always decide to give the fund a different mandate, but at the moment, I would say we wouldn’t have a mandate to operate a stablecoin or anything like
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