13 Hrs
Source:
النهار
Lebanon's Dollar Control
The article warns that dollar-pegged stablecoins such as USDT and USDC may make access to dollars and transfers faster and cheaper. But they are issued by private entities and are not necessarily equivalent to cash dollars, potentially shifting control over payments, liquidity, and data to institutions outside Lebanon. If funds that could otherwise be lent move into these currencies, local financing may shrink. In 2026, the International Monetary Fund warned that stablecoins could accelerate dollarization and pose risks to financial stability and monetary policy. The article calls for a regulatory framework that balances innovation with the protection of stability and users’ rights, while strengthening local financial infrastructure and the role of banks. It warns that the challenge may come to be not merely a weaker lira, but a loss of control over how dollars are managed.
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