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The Global “Stablecoin’’ Debate

Across the world, nations are taking different stances on the rise of stablecoins and cryptocurrencies. In the UK, the Bank of England’s Governor, Andrew Bailey, spoke with concern to the advisors, with a stern face, he warned: “We need to tread carefully in this stablecoin market, if this coin rises too fast, we risk losing control of the wheel that steers our economy’’…

The advisors agreed, with the Bank of England watching the coin from afar, weary, not knowing what would happen next, would it take away its control?

A different story for El Salvador, they embraced Bitcoin, calling it a tool for freedom, change, and access to the future.

Across the sea in China, another joyous dance began. Bitcoin was not feared; friendly policies are being made to adopt it.

Now, the world stands divided, debating whether to cling to the old traditions or boldly reach out for what’s next. One is worried about losing control of its economy, while the other is happy to jump on the trend of embracing and exploring the new future digital currencies.

By: Sandra A. Aghaizu

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