BUSINESSTHE BLOCK
BIS says stablecoins fall short as money, warns of emerging-market risks in annual report
The Bank for International Settlements (BIS) stated in its annual report that stablecoins do not meet the criteria of money in terms of singleness, elasticity, and integrity. It also highlighted risks for emerging markets associated with stablecoins.
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Adjacent reporting
- BIS says stablecoins act more like ETFs than money, warns of fragmentation without global rules: report
- BIS warns stablecoins risk fragmenting global financial system
- ECB official says stablecoins risk importing old market flaws
- BoE’s Bailey warns of looming ‘wrestle’ with US over stablecoin rules, flags run risk for UK
- ECB’s Lagarde flags euro-denominated stablecoins as financial stability risk, diverging from Bundesbank stance
- What’s the biggest stablecoin risk nobody talks about?