BIS Warns on Stablecoin Risks, Urges Global Coordination

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…

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…

BIS says countries need aligned stablecoin rules or firms will exploit gaps

The Bank for International Settlements (BIS) General Manager Pablo Hernandez de Cos on Tuesday said that the world cannot keep handling stablecoin rules country by country because that puts cross-border markets in massive danger. The BIS, often called the central bank for central banks, has been skeptical of stablecoin for years, even when the token is pegged 1:1 to the U.S. dollar. In the latest speech, the BIS chief said rising stablecoin mark…

Stablecoins Don't Meet Core Requirements Of Money, BIS Says

The BIS General Manager has said that existing stablecoins fall short of the requirements for a widely accepted and used payment instrument. Stablecoins Remain A “Niche” Payment Instrument Pablo Hernández de Cos, General Manager at the Bank for International Settlements (BIS), spoke on the topic of stablecoins at a Bank of Japan seminar in Tokyo on Monday. The BIS is an international financial institution that serves as a bank for central banks.…