BIS Warns Stablecoins Have 'Structural Flaws' That Could Threaten Financial Stability

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The Bank for International Settlements warns that stablecoins as currently designed carry structural flaws that could affect macroeconomic and financial stability if adoption scales widely. Coming from the central banks' central bank, it adds institutional weight against the stablecoin momentum visible elsewhere this week. The framing — design-level risk, not just bad actors — is the part that matters for policy direction.