Finance
What absurdity awaits, dear reader:
- Governor Amir Yaron, with a solemn face and a heart full of bureaucratic zeal, declared stablecoins “systemically relevant”-a phrase so grand, it could only be uttered in a room filled with charts and frowning men. 🧐
- He wailed about the “extreme concentration risk,” as if Tether and Circle were two giants stomping through a village of fragile regulations. 🦖🦖
- Meanwhile, the digital shekel team, led by the ever-optimistic Yoav Soffer, unveiled a 2026 roadmap, promising “central bank money for everything”-a phrase so Gogol-esque, it could only mean they’re planning to pay for falafel with blockchain. 🥙⛓️
Ah, the Bank of Israel! A place where numbers dance and regulations sing, though often in discordant harmony. Governor Amir Yaron, with a voice as steady as a poorly built bridge, proclaimed that stablecoins are no longer the eccentric cousin at the family dinner but the main course-rich, bloated, and impossible to ignore. 🍽️
Speaking at the “Payments in the Evolving Era” conference (a title so grand, it could only be matched by a Gogol novel), Yaron lamented that stablecoins, with their $300 billion market cap and $2 trillion in monthly transactions, are now as embedded in global finance as a nose is to a face. Or, as he put it, “Given adoption among the public, it cannot be said that this is a marginal phenomenon”-a statement as obvious as declaring the sky is blue. 🌌
Stablecoins, those peculiar creatures of the crypto world, pegged to fiat currencies like a dog on a leash, have become the darlings of traders and cross-border transactions. Yet, Yaron warns, their concentration in the hands of Tether and Circle is like putting all your matzo balls in one soup-risky and potentially disastrous. 🥣
His solution? A regulatory framework as scalable as a Gogol character’s nose, with 1:1 reserve backing and liquid assets. Because, as we all know, nothing says “stability” like a mountain of reserves and a pile of rules. ⛰️📜
Meanwhile, Yoav Soffer, the maestro of the digital shekel project, declared the CBDC would be “central bank money for everything”-a phrase so ambitious, it could only be uttered by a man who’s never tried to pay for a taxi with a blockchain. 🚕⛓️
“The revelation of the new roadmap for 2026 demonstrates that the Bank of Israel, like the ECB, is accelerating the pace to the launch of the CBDC,” said Ben Samocha, CEO of CryptoJungle, with a wink and a nod to the absurdity of it all. Because, in the world of finance, every step forward is a leap into the unknown-or, as Gogol might say, a dive into a sea of noses. 🌊👃
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2025-12-01 14:44