Financial integrity ‘the major concern’ with stablecoins – de Cos
Bespoke AML measures will be needed in case of wide adoption, says BIS chief
Stablecoins’ impact on financial integrity is “the major concern” linked to the rise of the crypto assets, Pablo Hernández de Cos said today (April 20).
Addressing the Bank of Japan, the Bank for International Settlements general manager warned that stablecoins created new money laundering risks that could require a rethink of existing regulatory frameworks.
De Cos acknowledged stablecoins did bring various benefits, such as the possibility of using smart contracts that enable programmability and
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