China's central bank warned that stablecoins, a type of digital currency, pose serious risks to global financial systems, while stressing that China's digital yuan doesn't have the problems.
Caixin
China warns stablecoins are a risk to global financial systems
Digital currencies tied to gold and dollar are used in crime, central bank says
The value of stablecoins is pegged to a reserve asset like the dollar or gold. They are attractive to investors because, in theory, their value is less volatile than bitcoin and other cryptocurrencies. © Reuters
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