BIZ calls for drastic measures against stable coins: money function remains unfulfilled
BIZ calls for drastic measures against stable coins: money function remains unfulfilled
biz calls for stricter restrictions on stablecoins: Done money
The Bank for International Payment Compensation (BIZ) pointed out the need to introduce stricter restrictions on stable coins in a current statement. The organization expresses that stable coins have not achieved the desired success in their function as funds.
stable coins are digital currencies that are bound to Fiatum currencies or other assets to ensure stability. Despite this approach, the BIZ sees fundamental problems that indicate that stable coins in its current form do not act as a reliable means of payment.
BIZ analysis suggests that the volatility and the underlying risks of stable coins could harm the financial systems. Therefore, the institution calls for regulatory measures to protect the integrity of the global financial system. The current developments raise questions about the future of payment transactions and the role of digital currencies.
In view of these challenges, the voices become louder after these challenges, after clear regulation and monitoring of these digital financial instruments. It remains to be seen how governments and supervisory authorities are reacting to these recommendations worldwide and what measures are taken to promote a more stable and safer financial landscape.
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