Stablecoins Fail Payment Credibility Test, BIS Says
13 Articles
13 Articles
Pablo Hernández de Cos, general manager of the BIS, believes that stablecoins have many problems to become the future of money. As an alternative, the executive points out that tokenized deposits would be a better option. His speeches were said at the Jackson Hole Economic Policy Symposium, an event in which Kevin Warsh, president of the Fed, showed himself [...] Source: BIS alerts to risks of stablecoins and defends tokenized deposits as an alt…
The BIS said some countries fear the loss of their monetary sovereignty and ability to control prices
BIS Chief Says Stablecoins Are Not Ready for Payments at Scale
BIS chief Pablo Hernández de Cos argued that stablecoins have yet to gain enough credibility for large-scale payments, while a new FSI study has revealed significant differences in rules governing issuers. The Bank for International Settlements has renewed its criticism of stablecoins, raising doubts about their reliability as everyday money while governments worldwide develop regulatory […] The post BIS Chief Says Stablecoins Are Not Ready for …
According to ChainCatcher, in response to recent warnings from Pablo Hernández de Cos, General Manager of the Bank for International Settlements (BIS), regarding the potential risks that stablecoins may pose to financial stability, Tether CEO Paolo Ardonio published an article on the X platform criticizing the BIS. He stated that stablecoins and tokenized bank deposits have fundamentally different underlying risk structures. Stablecoins are esse…
BIS Chief: Stablecoins Still Aren't Credible Money at Scale
Bank for International Settlements (BIS) General Manager Pablo Hernández de Cos told the Jackson Hole Economic Policy Symposium on August 28 that stablecoins still fail as real money and tokenized deposits should instead carry the bulk of everyday payments. A Blunt Verdict From Basel The BIS is the institution central bankers turn to for standards, […]
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