The recent surge in government-backed stablecoins has sparked debate over whether these dollar-pegged crypto tokens will strengthen or destabilise the economy.
The bipartisan passage of the “Genius Act” last month, which sets rules for stablecoins, triggered fresh speculation about potential risks, including fraud, tax evasion, and financial instability. Critics warn of systemic danger, while supporters argue stablecoins’ limited retail use confines any impact largely to the financial markets.
Crucially, stablecoins
