Bitcoin Forum

based on IMF articles published in May,

https://www.imf.org/en/News/Articles/2019/05/13/sp051419-stablecoins-central-bank-digital-currencies-and-cross-border-payments.

In the article, it is discussed about the possibility of using the Stablecoins.

Is this a green light for Stablecoin such as USDT, USDC & the excited LIBRA??  because we know that the US president expressed his dislike of Stable coin like Libra.

whether an explanation of the functions and advantages of Stablecoin will occur between the US president and the IMF??

We will see that after the result of the facebook hearing by US regulators. If IMF gives a greenlight but i believe if that organization will use its own stable coin. But it's not likely the stable coin that already exists in the market will not get a chance too but the problem is too many manipulations on crypto stable coin especially for tether.

If the US will step in and do something about it to prohibit the usage of stablecoins like Libra or crypto as a whole, it will be used elsewhere.
One official has expressed his thought about bitcoin and crypto and I like what he said that it's an unstoppable innovation and they had to embrace it.

Stablecoins unlike speculative coin has no large impact on the economy of fiat. Most of them could be centrally controlled (DAO seems to be a decentralized one) and are auditable. So, IMF might be promoting them in order to make crypto less useful as they'd conquer the transaction market.

Yes, the actual President of USA manifested his dislike regarding cryptocurrency but in the same time he mentioned that if any financial value wants to be accepted it has to obey to the U.S. law, so if it will be reglementation the President will give his O.K. if it is the case.

No way, in any case it will be a green light for stablecoins issued and controlled by the central banks and governments, something that will not be too different from current payment methods, but disguised as cryptocurrency.

The US has some major role when they said they're not fans of Stable coins, It makes some stable coins lose their value at some point cause when there is a comment like this from some big names to the economy of blockchains, the price will undoubtedly decreasing and demand will become low.

But it's not the end of the day If only one man saying negative words about stable coins cause there still more whales out there that willing to put their trust in investing to some stable coins to make it successful.

It is true that Donald Trump expressed his negative opinions on cryptocurrency, but after that Mnuchin posted a tweet saying that they're looking into crypto and that the President's opinion is only his own.

This is very good, although they have already said that they don't like Libra, even though it's gonna be fully centralized.

i dont still understand the idea why some people stuck on this issue. why do you need a stable coin? if you want your crypto to stay stable usdwise, you can just exchange them to usd and transfer it to your bank account.

Although there are now more than one stablecoins in the crypto space, which can be used comfortably, but I personally have reservation about tether. This might be contrary to Trump's opinion, because he might have envisaged that, people might prefer to make use not stablecoins than the US dollars, which might have effect on its value.

Thought they already have stablecoins called fiat currencies?
I do not see the need for another kind of stablecoins unless they want all national fiat currencies to exist on a single private blockchain (IMF blockchain maybe?) as tokens

Everyone has own view related to stablecoins. I think it is no problem if IMF and US president have different opinions. Trumph dislikes stablecoins, while IMF gives greenlight. But personally, I still don't see a chance for stablecoins to be a world currency for now. The use of stablecoins won't depend on IMF and US president only.