Economics, Policy & Regulation
Despite emerging alternatives, the network power of Swift makes it tough to remain in the global financial system and avoid sanctions.
Western sanctionshave failed to harm Russia's economy enough to stop the war, and the country's good-faith efforts to repay international investors may win sympathy for a new global financial order.
Inspired by prior experience being locked out of Western banking systems, the Russian bank’s defensive initiatives are paying off.
UST’s collapse will accelerate regulatory actions toward stablecoins demanded by Jeremy Allaire, co-founder, chairman and CEO of Circle, which pioneered USD Coin, and others in the cryptocurrency community.