In a new Atlantic Council article, BWC Members Barbara C. Matthews and Hung Tran share an update on the global debate surrounding central bank digital currencies (CBDCs) and stablecoins. While US policymakers are united in opposing a digital dollar and focusing on creating a regulatory framework for stablecoins, European regulators push for a digital euro and tokenized financial instruments to increase euro adoption. The authors write, “It remains to be seen if dollar-backed stablecoins could strengthen the dollar’s role in the global payment system.”

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.