“Stablecoins potentially infringe on nations’ policy sovereignty and present more benefits to robust economies like the US and Europe. They pose an economic and socio-political challenge, and also risk amplifying the dollar’s power. International sentiment points towards a need for stricter stablecoin regulation to ensure financial stability.”
Search Results for: T Rabi Sankar
Legal Complexities and Regulatory Scopes in the Evolving Cryptoasset Space: The StakeHound Example
The blockchain and cryptoasset sector, marked by advancements, legal issues, and regulatory responses, involves complexities like the recent lawsuit between StakeHound and Celsius. Global legislators are working to ensure safe and transparent crypto markets, while controversies rise with the introduction of Central Bank Digital Currencies (CBDCs).
Global Digital Currency Race: Stablecoins Threat or CBDCs Safety?
“The race for global digital currency dominance has stablecoins and Central Bank Digital Currencies (CBDCs) in the lead. However, Rabi Sankar, Deputy Governor of the Reserve Bank of India, warns that stablecoins could pose significant policy sovereignty risks for certain nations.”
India’s Digital Rupee: A Cross-Border Game Changer against Dollar Deficiency
The Reserve Bank of India’s digital rupee initiative aims to simplify trade for countries with scanty US dollar reserves, potentially boosting India’s exports. This fast and cost-effective cross-border payment system could provide an economic solution for nations struggling with dollar deficiencies.