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France 24
France 24
Technology

Cryptocurrency: How ‘stablecoins’ risk destabilising global markets

FSB US Federal Reserve Financial Stability Board Federal Reserve System
The value of stablecoins in circulation rose to $157 billion USD by the end of 2021, compared with $5.6 billion at the beginning of 2020. © Shutterstock

The Biden administration, the Federal Reserve System and the Financial Stability Board recently raised concerns about "stablecoins", suggesting that these unique cryptocurrencies could pose a major risk to global financial stability.

After Bitcoin and Libra – Facebook’s dead-on-arrival digital currency – global financial regulation authorities have a new enemy: stablecoins. The Financial Stability Board (FSB) specifically targeted these cryptocurrencies in its report on the dangers of crypto assets, published on February 16.

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