IMF Warns Rapid Stablecoin Adoption in Nigeria May Undermine Monetary Policy

According to The Block, the International Monetary Fund (IMF) warned that rapid stablecoin adoption in Nigeria is undermining the country's monetary policy transmission and regulatory framework. The expansion has been driven by the naira's depreciation, high inflation, and limited official foreign exchange access, pushing households and small businesses to stablecoins for cross-border payments and hedging currency risk.
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