CryptoSlate says adding stablecoins at full face value could count the same dollars twice if their reserves are already included in M1 or M2. It describes the note as staff research, not Fed policy.
CryptoSlate reports that Fed researchers say payment stablecoins could eventually enter M1 or M2, measures of the money supply, but their full face value cannot simply be added. If their reserves already sit in bank deposits or money funds counted in those measures, adding the tokens would count the same dollars twice, the outlet explains. CryptoSlate emphasizes that the note is staff research, not Fed policy.
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CryptoSlate says adding stablecoins at full face value could count the same dollars twice if their reserves are already included in M1 or M2. It describes the note as staff research, not Fed policy.
CryptoSlate reports that Fed researchers say payment stablecoins could eventually enter M1 or M2, measures of the money supply, but their full face value cannot simply be added. If their reserves already sit in bank deposits or money funds counted in those measures, adding the tokens would count the same dollars twice, the outlet explains. CryptoSlate emphasizes that the note is staff research, not Fed policy.
CryptoSlate@CryptoSlateFed researchers say payment stablecoins could eventually enter M1 or M2, but their full face value cannot simply be added. If their reserves already sit in bank deposits or money funds counted in those measures, adding the tokens would count the same dollars twice. The note is…
CryptoSlate@CryptoSlateFed researchers say payment stablecoins could eventually enter M1 or M2, but their full face value cannot simply be added. If their reserves already sit in bank deposits or money funds counted in those measures, adding the tokens would count the same dollars twice. The note is…