Stablecoins
Bank notes: October to December 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Bowman and Hill say stablecoin rules are on their way
FDIC acting chair says regulation to establish application framework should come this month
Permissionless payments may be the future – NY Fed study
Stablecoins’ accessibility makes them different from other fast payment options, say authors
Alexandre Tombini on LatAm resilience and growth amid uncertainty
The BIS Americas head speaks about the impact of the US tariffs, building resilience amid uncertainty and fostering inclusion through digital payments
PBoC emphasises stablecoins are illegal in China
Bank reiterates virtual currency ban and says pegged assets fail to meet identity and AML requirements
Gold and bitcoin buys triggered Tether downgrade, says S&P
Agency explains why it gave world’s largest stablecoin its lowest rating for stability
Climate and fragmentation are key risks, say deputy governors
Officials from EMEs in Africa and Americas outline concerns at Autumn Meetings
Cryptogeddon: a user’s guide for central banks
How might monetary authorities react if a digital asset crash destabilised the financial system?
CNB digital asset portfolio is about real learning, says Michl
Governor says bank is not looking to simulate reality but ‘touch it’ with experimental bitcoin holding
Cash is the tender of last resort – panel
Officials at Central Banking Autumn Meetings discuss risks of long-term outages in era of digital payments
Central banks must respond to challenges of digital innovation – panel
Central Banking Autumn Meetings panel looks at how stablecoins, CBDCs and AI are shaping decision-making
Japan will not implement Basel crypto regs by 2026, says FSA
Regulator cites country’s limited exposure to digital assets as reason for not meeting deadline
More independent central banks hold fewer dollars – research
De-dollarisation benefits Singaporean and Korean currencies, while Australia’s and China’s lose out
‘Imaginations are running wild’ – Nagel on AI
Europe is prepared for a financial downturn, Bundesbank president says
Confusion reigns over EU multi-issuance stablecoins regs
EBA seeking clarification from EC over assets’ legality after ECB’s and ESRB’s calls for ban
MAS to issue tokenised bills and draft stablecoin law
MD says Singaporean banks completed first CBDC interbank overnight lending settlement
Brazil tightens crypto rules amid fears of capital outflow
Stablecoin transactions will be treated as FX operations under new central bank regulations
BoE proposes changes to systemic stablecoin regime
Breeden says aim is to ‘build trust’ as issuers no longer have to hold 100% of reserves at bank
Carney to direct BoC to administer open banking and stablecoins
PM’s first budget plan includes funding allocation for central bank to administer relevant legislation
Posen predicts Supreme Court will side with Cook
However, PIIE president tells panel that justices are still likely to undermine Fed independence
Stablecoins should be tightly regulated – HSBC exec
John O’Neill says lender’s views on the assets are aligned with those of central banks