The U.S. Treasury Borrowing Advisory Committee, comprising Wall Street leaders, explored the potential of tokenization in debt management. They reported that tokenized debt could significantly enhance the financial landscape. However, the committee raised concerns about stablecoins, particularly Tether's USDT, indicating that it might present a substantial run risk. This warning reflects broader apprehensions regarding the impact of stablecoins on financial stability. Overall, the advisory panel recognizes the promise of tokenization while emphasizing the need for potential central control to mitigate associated risks.
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