This is an issue that can potentially affect every country in the world. We have already begun work to identify which regulations exist that apply to stablecoins in our jurisdictions, and once that assessment is complete, we will report to the G20 on any appropriate actions that need to be taken to ensure that financial stability is not negatively affected by their introduction.
He asked his readers to imagine that the government or society could offer the head of the central bank a performance contract, one that includes explicit monetary rewards or penalties that depend on the economic outcomes that occur under his watch.