BIS Says Stablecoins Resemble ETFs, Urges Global Rules
The Bank for International Settlements said stablecoins behave more like exchange-traded funds than money and argued that global coordination on their regulation is critical. The BIS warned that fragmented national rules could create regulatory arbitrage and increase the risk of market stress.
BIS officials also said growing use of U.S. stablecoins for international payments could accelerate dollarization in developing economies and threaten financial integrity through regulatory circumvention, capital-control evasion and tax evasion.
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@theblockcoBIS says stablecoins act more like ETFs than money, warns of fragmentation without global rules: report
@cointelegraph⚡️ INSIGHT: BIS says global coordination on stablecoins is “critical,” warning fragmented rules could trigger regulatory arbitrage, market stress, and faster dollarization in developing economies.
@bitcoinnews🏦 Central bank officials are warning that the rising use of U.S. stablecoins for international payments threatens financial integrity. BIS head Pablo Hernández de Cos cited concerns about regulatory circumvention, capital control evasion,