SNB’s Tschudin Voices Concern About Stablecoin Impact on Central Banks
She said large stablecoins could weaken central bank money and reduce banks’ lending capacity, even as they may improve cross-border payments.
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8 Articles
SNB's Tschudin voices concern about stablecoin impact on central banks
Stablecoins Could Harm Monetary Policy Transmission, SNB Says
(Bloomberg) -- Stablecoins could complicate the transmission of monetary policy, one of the Swiss National Bank’s three interest rate-setters said, calling for a regulation that safeguards the influence of policymakers.
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The Swiss National Bank warns stablecoins could disrupt monetary policy transmission and calls for regulation to keep central banks in control.
Arguments have emerged from the Swiss National Bank (SNB) that regulations are needed to protect the central bank's policy influence, as the proliferation of stablecoins issued by major companies could complicate the transmission channels of monetary policy implemented by the central bank. Petra Choudin, an executive commissioner and one of the three policy commissioners responsible for determining the benchmark interest rate at the SNB, [said] …
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