IMF lays out guidelines for addressing stablecoin risks, beyond regulations

The International Monetary Fund (IMF) released a report analyzing the growing stablecoin market and the adequacy of global regulations. While acknowledging that emerging regulations in regions like the US, UK, Japan, and the EU can mitigate macrofinancial stability risks, the IMF found the current regulatory landscape to be fragmented. The proliferation of stablecoins across different blockchains raises concerns about interoperability issues and potential roadblocks between countries due to varying regulatory treatments. Crucially, the IMF stated that while stablecoin regulation is helpful, the "first line of defense" against risks should be "strong macro-policies and robust institutions," emphasizing that international coordination remains essential. The report also noted that major stablecoins like Tether's USDT and Circle's USDC are predominantly backed by short-term US Treasurys and bank deposits.

(Source：Cointelegraph)