{"id":"tp-9595","type":"article-newspaper","title":"Stablecoins could undermine local currency, according to the Hong Kong Monetary Authority","author":"Mark Jason Alcala","publisher":"TOKENPOST Inc.","url":"https://www.tokenpost.com/news/regulation/9595","datePublished":"2022-04-29T08:54:13.000Z","dateModified":"2022-04-29T08:54:13.000Z","language":"en","abstract":"The HKMA warned stablecoins could enable easier capital flight in a financial crisis undermining a central bank’s control over the economy or undermine payment integrity due to financial or operational failures.","section":"Regulation","references":[{"title":"Cointelegraph","url":"https://cointelegraph.com/news/hong-kong-watchdog-warns-stablecoins-could-undermine-hkd-in-cbdc-paper"},{"title":"Coinmarketcap","url":"https://coinmarketcap.com/"},{"title":"HKMA","url":"https://www.hkma.gov.hk/eng/news-and-media/press-releases/2022/04/20220427-3/?module=inline&pgtype=article"},{"title":"TokenPost","url":"https://www.tokenpost.com"}]}