Introduction Global adoption of digital assets has introduced new layers of complexity to cross-border capital flows. Bitcoin, Ether, and stablecoins represent the backbone of both retail and institutional activity in crypto markets. Their movement across jurisdictions raises important questions about monetary sovereignty, regulatory arbitrage, and systemic risk. The BIS Working...
Introduction Stablecoins have evolved from niche technological experiments to instruments of growing relevance in the global financial ecosystem. By 2025, their role as settlement infrastructure, value transfer vehicle, and bridge between traditional and decentralized markets has reached an inflection point. BIS Bulletin No. 108 analyzes this expansion, highlighting associated risks,...
The GENIUS Act creates the first U.S. federal framework for stablecoins, setting reserve, licensing, and consumer protection standards. It marks a milestone for regulators and institutions, paving the way for institutional DeFi adoption.
