Rabi Sankar – „Stablecoins werfen erhebliche Bedenken hinsichtlich der Währungsstabilität, der Finanzpolitik, der Intermediation und der systemischen Widerstandsfähigkeit auf.“"
Neugierig, wie andere das wahrnehmen? Weil ich das Gefühl habe, dass ein Teil der Welt zu diesem Thema gespalten ist
https://www.sandmark.com/news/top-news/indias-central-bank-draws-line-stablecoins-advances-cbdcs?utm_medium=referral&utm_source=redbot&utm_campaign=redbot-ww-en-brand
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tldr; The Reserve Bank of India (RBI) has reiterated its opposition to stablecoins, citing risks to monetary stability and concerns over their reliability compared to India’s existing digital payment systems like UPI. RBI Deputy Governor T. Rabi Sankar criticized stablecoins as private money and questioned their superiority in cost or speed. He also dismissed cryptocurrencies as speculative and lacking intrinsic value. Instead, India is focusing on developing a central bank digital currency (CBDC) to maintain monetary control while addressing privacy challenges.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
India has China’s hand up it’s ass.
ECB also wants to go the CBDC route but have met with resistance from financial sector.
14 banks say no, they have or are already in the process of creating their own solutions and that CBDC doesn’t add any value. [https://www.ccn.com/news/crypto/cbdc-fault-lines-digital-euro-clash/](https://www.ccn.com/news/crypto/cbdc-fault-lines-digital-euro-clash/) now hybrid type solutions are being discussed. But yeah duplication of effort, infrastructure etc.
Interestingly, UK BoE has shelved their plans for a CBDC and are looking at regulation and oversight for stable-issuers instead. So more along the lines of what USA is doing.
It’s a thorny topic with permissions and control at the heart of it. It will get more political in the new year.