BIS warns dollar-pegged stablecoins reinforce dollar dominance, not challenge it

BIS says stablecoins fall short as money, warns of emerging-market risks in annual report

BIS 2026 report rejects stablecoins as money; models show medium-term economic drag if $3T adopted; warns of "dollarization" in emerging markets. For tech leaders, this confirms regulatory trajectory: CBDCs and bank-backed ledgers will govern tokenization; strategy and governance must reset.