Dan Katz: Local currency stablecoins may accelerate users' shift to digital dollars

According to Cointelegraph, Dan Katz, the First Vice President of the International Monetary Fund, stated that local stablecoins may accelerate users' shift towards digital dollars and weaken authorities' ability to regulate capital flows. Dan Katz pointed out that users can convert between local currency stablecoins and US dollar stablecoins through decentralized exchanges or peer-to-peer exchanges, and US dollar tokens have advantages such as strong liquidity, network effects, and cross-border use.