Adrian Orr, the Governor of the New Zealand Central Bank, has voiced apprehensions regarding the credibility of cryptocurrencies, particularly stablecoins, in comparison to conventional fiat money.

The discussion highlights the evolving stance of US regulations concerning stablecoins, underscoring their impact on the international financial landscape.

Orr's skepticism reflects a broader debate on the viability of cryptocurrencies like Bitcoin and stablecoins as alternatives to centralised bank currencies.

This discourse, as detailed in a BeInCrypto post, signals the ongoing scrutiny cryptocurrencies face in their quest for legitimacy within the global financial hierarchy.