The IMF has warned that the rise of stablecoins pegged to local currencies could make it easier for users to access digital dollars.

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The reason is that stablecoins can make it easier to transfer and use digital money. As users become familiar with and use stablecoins regularly, they can easily switch to stablecoins pegged to the US dollar. The IMF warns that this could reduce the use of local currencies and create something similar to “Dollarization” in the digital system.

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