Stablecoins Slammed by Central Bankers Amid Trump’s Crypto Embrace – Sri Lanka Guardian
Top central bankers have delivered a blistering critique of stablecoins, declaring them unfit to function as mainstream money and warning of major risks if they are elevated to a central role in global finance. In a chapter from its latest annual report, the Bank for International Settlements (BIS)—the global forum for central banks—argues that stablecoins “perform badly” on the three fundamental tests of money: singleness, elasticity, and integrity. The statement directly challenges U.S. President Donald Trump’s push to position stablecoins at the heart of America’s financial future.
As reported by the Financial Times, the BIS’s findings are a rebuke to Trump’s crypto-friendly agenda, which has…
