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한국관련자료
Stablecoins and national security: Learning the lessons of Eurodollars
Brookings
2024.04.23
This paper discusses how stablecoins could destabilize what Eurodollars helped to create-the global financial system plumbing that has been a means to implement sanctions-and what to do about it. First, I provide a brief summary of the history of Eurodollars and their rapid growth. I discuss how Eurodollars strengthened the role of the U.S. dollar and U.S. banks. I then discuss the risks that stablecoins pose, in particular how they could be used to circumvent the existing financial system plumbing and sanctions. Finally, I suggest a path forward to promote responsible financial innovation while protecting our national security interests.