JOURNAL ARTICLE

New Zealand Central Banker Slams Stablecoins as 'Oxymorons'.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Brockett, Matthew 3 of 3

Abstract

New Zealand central bank governor Adrian Orr has criticized stablecoins, a form of cryptocurrency, stating that they are not a substitute for fiat money. Orr expressed concerns about stablecoins' stability, as their value relies on the balance sheet of the entity offering them. He also highlighted that Bitcoin is not a means of exchange, a store of value, or a unit of account, and emphasized the importance of fiat currencies backed by credible institutions like independent central banks. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/02, pN.PAG
  • Document Type:Article
  • Subject Area:Literature and Writing
  • Publication Date:2024
  • Accession Number:175357460
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