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Risk Channel
North America
Global cooperation on stablecoins critically important, BIS says

Bank for International Settlements General Manager Pablo Hernandez de Cos has said the potential for stablecoins to undermine monetary and fiscal ​policy, cause financial market stress and obstruct the fight against illicit financing, means ​global regulatory coordination is of "critical importance." Speaking in Japan, de Cos warned that without such cooperation, "divergent regulatory frameworks for stablecoins across jurisdictions could ⁠lead to severe market fragmentation or enable harmful regulatory arbitrage."

Full Issue
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Risk Channel
UK/Europe
Global cooperation on stablecoins critically important, BIS says

Bank for International Settlements General Manager Pablo Hernandez de Cos has said the potential for stablecoins to undermine monetary and fiscal ​policy, cause financial market stress and obstruct the fight against illicit financing, means ​global regulatory coordination is of "critical importance." Speaking in Japan, de Cos warned that without such cooperation, "divergent regulatory frameworks for stablecoins across jurisdictions could ⁠lead to severe market fragmentation or enable harmful regulatory arbitrage."

Full Issue
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