Treasury says it will combat misinformation about Palau’s stablecoin by increasing transparency

The Treasury Department said it was working with the FactSet department.
Checking institutions to ensure transparency and combat disinformation
About Palau’s stablecoin (PSC) plan.
In its second phase report to Treasury on the public service contracts program, the Treasury
Members of Congress detail progress made on the initiative
Including how it will combat disinformation about the program.
“Managing social cognition in the digital age, both globally and at a national level, is
The media is vital. As misinformation spreads, Palau recognizes
“It is critical to quickly combat false narratives,” the report states.
PSC is a digital currency pegged to the US dollar using Ripple’s XRP
general ledger.
According to the ministry, the second phase of the plan will include the development of
A framework for a national payment service system similar to PayPal or Alipay.
But as the initiative has been implemented, misinformation has spread to the safety and
Transparency of stablecoins, including the possibility of currency additions
Money laundering was carried out through this scheme.
“Palauans will not be able to use the planned national payment system to launder money
services, it is not possible,” the report states.
It added that political opponents of the scheme were also accused of providing funding
Stablecoins and the money laundering risks of unauthorized congressional activities.
The report states that the project requires strong communication skills
and conduct public information campaigns to dispel misinformation.
The ministry also plans to hold workshops and digital events to help
The community understands stablecoins.
It also vowed to build “active media relations” to gain a full understanding of
The project applies to national and global landscapes.
The ministry said it believed in “transparency and keeping everyone informed”
Avoid misinformation. (Bernadette Carreon)

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