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Global – Preventing a Stablecoin Liquidity Crisis (Project-Syndicate)

ANDRÉS VELASCO writes: There is no sound argument for applying lender-of-last-resort protection to privately issued cryptocurrencies. But regulators can prevent the all-too-predictable liquidity squeeze caused by a run on stablecoins – including by regulating them out of existence if necessary.

go to Project-Syndicate: Preventing a Stablecoin Liquidity Crisis by Andrés Velasco – Project Syndicate (project-syndicate.org)