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BIS Warns Stablecoins Pose Risks to Monetary Sovereignty Amid Regulatory Moves
BIS Warns Stablecoins Pose Risks to Monetary Sovereignty Amid Regulatory Moves
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BTCCSquare news:
The Bank for International Settlements (BIS) has escalated its critique of stablecoins, labeling them as ineffective monetary tools that threaten financial stability. In a newly released annual report, the institution—often dubbed the central bank for central banks—cited concerns over capital flight, transparency gaps, and erosion of monetary control, particularly in emerging markets.
Hyun Song Shin, BIS Economic Adviser, drew historical parallels to the 19th-century Free Banking era, noting how issuer-dependent exchange rates undermine currency reliability. The warning arrives as the U.S. Senate advances the GENIUS Act, a stablecoin regulation bill that could accelerate adoption if passed by the House.
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