Stablecoins Reframed as ‘Central Business Digital Currencies’: Implications for Finance and Regulation

The cryptocurrency landscape is experiencing a significant shift in terminology. Industry leaders are increasingly referring to privately-issued stablecoins as ‘central business digital currencies,’ a designation echoing the characteristics of central bank digital currencies (CBDCs). This change in language reflects a deeper understanding of these cryptocurrencies’ control mechanisms and raises crucial questions regarding their role within the financial ecosystem.