Will Fractional-Reserve Stablecoin Banking Replace Bitcoin and Some Traditional Banking Payments?

【Author】 Calomiris, Charles W.

【Source】JOURNAL OF APPLIED CORPORATE FINANCE

【影响因子】0.000

【Abstract】Bitcoin is reaching stratospheric prices, rising from about $8,000 in January 2020 to above $60,000 in September 2021. The outstanding supply of stablecoins is growing even faster, rising from $3 billion in January 2019 to $30 billion in January 2021.(1) The institutional and legal foundations of crypto banking and finance are evolving rapidly too. For example, the Office of the Comptroller of the Currency (OCC), where I served as Chief Economist until March 2021, recently issued several interpretive letters that clarify how the federal banking system interacts with the new world of crypto assets and blockchain networks.(2) If you are not already an expert on all things crypto, you may find the breadth of change the financial system is undergoing a bit challenging to understand.

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【发表时间】2021 DEC

【收录时间】2022-02-06

【文献类型】期刊

【主题类别】

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