Swiss National Bank board member Tschudin says stablecoins may make monetary policy transmission more difficult
BIBIBI
AT A GLANCE
Tschudin said that stablecoins may make monetary policy transmission more difficult.
Article
Swiss National Bank board member Tschudin: Stablecoins make monetary policy transmission more difficult
PANews September 30 According to reports, Swiss National Bank board member Tschudin stated: It is important that the design of digital currency types does not constrain central banks’ ability to perform their functions. Stablecoins, and their lower degree of connection to the two-tier financial system, make monetary policy transmission more difficult.
PANews reported on September 30 Tschudin’s remarks on digital currencies and stablecoins.
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Tschudin said that the design of digital currency types should not constrain central banks’ ability to perform their functions.
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Tschudin said that stablecoins and their lower degree of connection to the two-tier financial system make monetary policy transmission more difficult.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This passage discusses the following: when central banks influence interest rates, credit, and economic activity through the financial system, stablecoins may make that influence more difficult to transmit if they have weaker connections to the traditional two-tier financial system. This reflects Tschudin’s stated view; the original text does not mention any new policy decision or specific measure.
Why it matters to readers
The remarks indicate that the design of stablecoins and their connections to the traditional financial system are matters of concern for central banks.
Beginners may understand this as a policy-level concern. It does not mean stablecoins have already been subjected to new restrictions, nor can the performance of specific stablecoins be assessed based on this statement alone.
Risks and unknowns
The evidence provides only PANews’ paraphrase and does not include Tschudin’s original remarks or a Swiss National Bank document.
The original text does not state whether stablecoin regulations or restrictive measures will be introduced.
The original text does not explain which specific stablecoins or market prices may be affected by this view.
The original text describes Tschudin’s role as “Swiss National Bank board member”; the exact position cannot be further verified.
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Related concepts
Stablecoins
A class of interchangeable crypto assets that anchor to the same underlying value across entities; examples in the text include USDT and USDC。
