Moody's: Rising Cryptocurrency Adoption in Emerging Markets Poses Risks to Financial Resilience

Jinse Finance reported that credit rating giant Moody's stated in a new report that the adoption of cryptocurrencies in emerging markets poses risks to monetary sovereignty and financial resilience. Moody's pointed out that if the penetration rate of stablecoins pegged to the US dollar continues to rise, leading to more market pricing and settlement activities being conducted outside of local currencies, it will weaken the effectiveness of monetary policy transmission. The report shows that as of 2024, the estimated number of cryptocurrency holders has increased to 562 million, a 33% increase compared to 2023.