🌐 Stablecoins ‘Perform Poorly’ as Money, Central Banks Warn
The Bank for International Settlements (BIS) has issued a strong warning in its latest report: stablecoins—despite their rapid adoption—fail three fundamental criteria of sound money: singleness, elasticity, and integrity. According to the BIS, these digital currencies lack true backing by central banks, insufficient AML/KYC controls, and the ability to expand money supply through lending—raising concerns…