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Autor
Jorcano Fernández Javier (The Startup CFO, Madrid, Spain), Echarte Fernández Miguel Ángel (DEKIS Research Group, Department of Economics, Catholic University of Ávila, Avila, Spain), Náñez Alonso Sergio Luis (DEKIS Research Group, Department of Economics, Catholic University of Ávila, Avila, Spain)
Tytuł
The Asset-Backing Risk of Stablecoin Trading: the Case of Tether
Źródło
Economics and Business Review, 2024, vol. 10 (24), nr 1, s. 57-80, rys., tab., bibliogr. 79 poz.
Słowa kluczowe
Polityka pieniężna, Stabilność finansowa, Audyt, Międzynarodowe Standardy Sprawozdawczości Finansowej (MSSF), Zarządzanie ryzykiem, Zmienność, Bilans
Monetary policy, Financial sustainability, Audit, International Financial Reporting Standard, Risk management, Variability, Balance sheet
Uwagi
Klasyfikacja JEL: G15, M21, M41, M42, M48
summ.
Abstrakt
This article aims to analyse the asset-backing risk of stablecoins, focusing on international accounting standards, classification criteria, and auditing standards and using Tether as a case study. It examines Tether's issuance, backing, controls, ratios, and regulations to assess risk transmission and mitigation. The results suggest a need for unified and strengthened accounting and auditing standards to enhance user confidence. Liquidity, solvency, and debt ratios were applied to Tether's balance sheets; while Tether has made efforts to increase its transparency, and although it possesses highly liquid assets, challenges remain regarding its liquidity, solvency, and debt. An independent auditors' valuation is crucial for investor confidence, demonstrating that more specific regulations are required for stablecoins. Future research should explore other stablecoins to comprehensively understand the accounting and auditing challenges in the field. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Pełny tekst
Pokaż
Bibliografia
Pokaż
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Cytowane przez
Pokaż
ISSN
2392-1641
Język
eng
URI / DOI
https://doi.org/10.18559/ebr.2024.1.1211
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