Bitcoin Forum

Stablecoins could make monetary policy less effective in some nations, the IMF said.
https://decrypt.co/350996/stablecoin-adoption-could-stifle-central-bank-control-imf-warns
The organization pointed to stablecoins’ ability to “penetrate an economy.”
So far, an overwhelming majority of stablecoins have been tied to the U.S. dollar.
Stablecoins have the potential to broaden individuals’ access to financial services, but that may come at the cost of central banks, according to the International Monetary Fund.

In a 56-page report published on Thursday, the international organization identified “currency substitution” as a potential risk that stablecoins pose, describing the dynamic as something that could incrementally erode the financial sovereignty of various nations.

Historically, if an individual wanted access to the greenback, they would typically be required to hold physical cash or open a certain type of bank account. However, “stablecoins can penetrate an economy rapidly via the internet and smartphones,” the IMF noted.

I do not know the reason IMF is called International Monetary Fund, they are IFF which is International Fiat Fund. Anything that is against fiat is not what they can support. Only what they want is the fiat that they can easily control and be manipulated by the government.

IMF advised against bitcoin also even as bitcoin posed no risks, they are still advising against its adoption. I can not believe anything this Fiat Fund Organization is saying about competitive assets.