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Archive » January 2026 » The future of the International Monetary System with the legitimization of Cryptoassets and Stablecoins

The future of the International Monetary System with the legitimization of Cryptoassets and Stablecoins

Paolo Savona
January 2026 - n. 1
Keywords: Criptovalute, sistema monetario
Jel codes: E40, E26

The international monetary scenario sees four forms of money: the monetary base, bank money, cryptocurrencies used as money and stablecoins, shaking to the root the architecture patiently created in the post-war period on the basis of the historical knowledge. The conclusion is that the global monetary and financial system has become so tangled that governments and supervisory authorities will lose the ability to follow its evolution in order to satisfy the function of social utility that has been established over the centuries. The solution cannot be the return to geopolitical balances based on the force of armaments and its use in war, but the start of a new historical session for philosophers and economists to build a new political and legal architecture that relaunches the real and civil development of the planet.

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