According to CoinMeta, as reported by Cointelegraph, Dan Katz, the First Deputy Managing Director of the International Monetary Fund, stated that local currency stablecoins could accelerate users' shift towards the digital dollar and weaken authorities' ability to regulate capital flows. He pointed out that users can convert between local currency stablecoins and dollar stablecoins through decentralized exchanges or peer-to-peer transactions, and that dollar tokens have advantages such as strong liquidity, network effects, and cross-border usability.