论文标题
Stablecoins和中央银行数字货币：政策和监管挑战
Stablecoins and Central Bank Digital Currencies: Policy and Regulatory Challenges
论文作者
论文摘要
稳定币和中央银行的数字货币正在亚洲范围内，在某些情况下已经到来。本文提供了新的分析，并对两种形式的数字货币的用例进行了批评。它为领先的Stablecoin Tether提供了时间变化的估计，使用了期货市场的数据。它描述了在跨境交易中广泛使用中央银行数字货币的巨大障碍，即它们的效用是最大的。最重要的是，严重的不确定性继续欺骗该地区的数字货币计划。
Stablecoins and central bank digital currencies are on the horizon in Asia, and in some cases have already arrived. This paper provides new analysis and a critique of the use case for both forms of digital currency. It provides time-varying estimates of devaluation risk for the leading stablecoin, Tether, using data from the futures market. It describes the formidable obstacles to widespread use of central bank digital currencies in cross-border transactions, the context in which their utility is arguably greatest. The bottom line is that significant uncertainties continue to dog the region's digital currency initiatives.
