Systemic stablecoin and the defensive case for Central Bank Digital Currency: A critique of the Bank of England’s framing

Jamie Morgan

Research in International Business and Finance, 2022, vol. 62, issue C

Abstract: The case for CBDC does not just rest on its benefits or attractions, but also on its scope to avert potential problems associated with stablecoin. In this brief paper I critique the ‘illustrative scenario’ at the heart of the Bank of England’s recent New Forms of Digital Money discussion paper. I suggest that it does not deal realistically with the motives and practices of issuers. The argument speaks to contradictory trends both in the urgency of regulation of stablecoin and the underlying case for CBDC.

Keywords: Central Bank Digital Currency; Cryptocurrency; Stablecoin; Diem (search for similar items in EconPapers)
JEL-codes: A1 B0 G00 G1 G2 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0275531922001040
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:62:y:2022:i:c:s0275531922001040

DOI: 10.1016/j.ribaf.2022.101716

Access Statistics for this article

Research in International Business and Finance is currently edited by T. Lagoarde Segot

More articles in Research in International Business and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().