🚨JUST IN: IMF's Dan Katz says local-currency stablecoins built to fight dollarization are backfiring, accelerating it instead. He says they let users swap into dollars on-chain, bypassing the banks capital controls rely on. He cites South Africa, where Rand-linked stablecoins have seen even less demand than the country's already-limited dollar stablecoin adoption. Stablecoin volume hit $30 TRILLION in 2025, but only $390 BILLION was real-world payments, per BIS data cited by Katz.(Coin Bureau)