BdF governor and Coinbase CEO clash over stablecoins at Davos
De Galhau warns of ‘full dollarisation’, while head of crypto exchange heralds dawn of ‘bitcoin standard’
The governor of France’s central bank and the head of a US crypto exchange have clashed over stablecoins during a discussion at the World Economic Forum in Davos.
During a panel at the event on January 21, the Banque de France’s François Villeroy de Galhau warned that tokenisation “could mean full dollarisation” for some emerging markets, as the privatisation of money – through the propagation of dollar-backed stablecoins – could put their sovereignty at risk. Some “emerging powers” in the G20
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