Abstract
Cryptocurrencies are no longer a foreign concept. With their many distinct features, they serve as a currency in commercial transactions and an investment channel. They facilitate currency agreements between countries, improving the performance of financial markets and cross-border remittance services. However, cryptocurrencies alone are not sufficient to achieve policy objectives. This study aims to demonstrate the impact of cryptocurrencies on macroeconomic stability, monetary policy, and financial stability. The study proposes several recommendations, including that policymakers focus on the need to develop specific regulatory measures aimed at promoting the use of cryptocurrencies.
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