Taking stablecoins seriously, with Haseeb Qureshi
Complex Systems with Patrick McKenzie (patio11)
Capital Flight and Clarity: The Role of Stablecoins
This chapter explores how stablecoins, such as Tether and USDC, facilitate capital flight in countries with restrictive controls, enabling individuals to 'dollarize' amidst economic instability. It examines the regulatory challenges posed by stablecoins and their perception by authorities as tools of illicit activity while highlighting their empowering potential for citizens in authoritarian regimes. Additionally, the chapter discusses the implications of stablecoins in international payments, particularly in the context of shifting geopolitical landscapes and the need for innovative financial solutions.
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