BIS Annual Report Criticizes Stablecoins, Citing Shortcomings as Money and Emerging Market Risks
BIS Annual Report Criticizes Stablecoins, Citing Shortcomings as Money and Emerging Market Risks
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The Bank for International Settlements (BIS) has published its annual report, asserting that stablecoins currently fail to meet the essential attributes of money, specifically citing deficiencies in singleness, elasticity, and integrity. The report also highlights potential risks these digital assets pose to emerging markets.
The Bank for International Settlements argued in its annual report that stablecoins still fall short of money on singleness, elasticity and integrity.