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As cryptocurrencies get hammered in the economic meltdown, stablecoins whose value is pegged to another asset like a fiat currency or a commodity are also bad investments and are ill-suited as a form of money, Siddharth Tiwari, the Asia-Pacific head of the Bank of International Settlements (BIS), has said. Cyptocurrency: Stablecoins Not Stable, Have ‘No Role’ As Money, Warns Top Banker. ....
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