Ten Stablecoin Predictions and Their Monetary Policy Implications

Overview: Not much has happened since 2016 to give regulators that transparency in the securities and derivatives realms, but—oh boy—a lot has happened in the U.S. dollar payments realm since then. And these advances give me good reason to be optimistic that, when digital dollars are widely adopted in financial markets—which they inevitably will be—they will finally give regulators the transparency they need to ensure financial system stability.