Stablecoins' 'hidden dollarization' threatens monetary sovereignty, BIS warns. Russia uses them in trade, but CBRF unregulated due to US jurisdiction.
According to BIS, around 98% of all stablecoin capitalization is in USD, with USDT and USDC used for savings and payments in high-inflation countries. Major issuers are US-based, raising concerns about monetary sovereignty. Russia uses stablecoins in trade, but CBRF doesn't regulate them due to US jurisdiction.
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