IMF Highlights Persistent Regulatory Gaps in Stablecoin Oversight

The International Monetary Fund has identified unresolved classification and enforcement challenges as major hurdles in stablecoin regulation. Deputy Managing Director Bo Li emphasized the lack of global consensus during remarks at Summer Davos 2025, noting divergent approaches across jurisdictions.

Key debates center on whether stablecoins should be classified as currencies or financial assets, and their appropriate monetary tiering. While the U.S., Europe, and Asian markets experiment with frameworks, Li characterized these efforts as preliminary, warning of potential regulatory arbitrage.

The IMF is collaborating with the Financial Stability Board and Basel Committee to develop guidance, but member states remain cautious in their approach. This regulatory uncertainty persists as stablecoins gain increasing traction in global finance.