BIS Warns on Stablecoin Risks, Urges Global Coordination
16 Articles
16 Articles
BIS Warns of Stablecoin Risks That Could Distrupt Global Finance
Over the years, Stablecoins have gained the attention of many, yet they are still far from becoming true money.A new report from The Bank of International Settlement’s manager explains that stablecoins are the digital assets designed to keep a stable value, and is often linked to the US dollar. He explained that they are mainly used inside the crypto system and not widely for everyday payments.According to the manager, despite its fast growth, t…
BIS Official Flags $320 Billion Stablecoin Market as Financial Stability Concern
The post BIS Official Flags $320 Billion Stablecoin Market as Financial Stability Concern appeared on BitcoinEthereumNews.com. Key Takeaways: BIS General Manager Pablo Hernández de Cos warned April 20 that stablecoins’ $320 billion market poses financial stability and AML risks. Tether’s USDT dominates the stablecoin market. De Cos called for policymakers to refine frameworks using Project Agorá as a model for integrating tokenization by 2026. B…
BIS Warns on Stablecoin Risks, Urges Global Coordination - Invest In Crypto News
The Bank for International Settlements (BIS) general manager, Pablo Hernández de Cos, on Monday called for tighter global coordination on stablecoins, warning that US dollar-denominated tokens could have “material consequences” for financial stability and economic policy if they grow large enough to rival traditional money. Speaking at a Bank of Japan seminar in Tokyo, he said current stablecoin arrangements fall short of what is needed for a w…
The agency points to systemic risks, loss of monetary control and pressure on banks in the face of stablecoins growth. *** BIS calls for global standards for stablecoins in the face of cross-border risks. Stablecoins could weaken bank deposits and traditional credit. Concerns about AML, monetary sovereignty and capital flows are growing. The Bank for International Settlements (BIS) issued a strong warning about the future of stablecoins, noting …
BIS: USD-backed stablecoins could strain banks and policymaking
The Bank for International Settlements (BIS) is advocating tighter international coordination on stablecoins, warning that USD-denominated tokens could pose material risks to financial stability and economic policy if their scale rivals traditional money. The BIS perspective emerged from remarks by General Manager Pablo Hernández de Cos at a Bank of Japan seminar in Tokyo, where he stressed that current stablecoin arrangements do not yet meet th…
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