The General Manager of the Bank for International Settlements (BIS), Pablo Hernandez de Cos, stated that stablecoin regulation requires global coordination; otherwise, regulatory differences between countries could lead to severe market fragmentation and trigger regulatory arbitrage. He pointed out that stablecoins could weaken monetary and fiscal policies, create stress in financial markets, and impact anti-money laundering systems. Currently, stablecoins face friction in their redemption mechanisms, making them more similar to securities or ETFs rather than currencies. He also warned that a potential run on stablecoins could shock the market. (Reuters) https://(wublock123.com)/news/bis-stablecoins-risk-market-fragmentation-without-global-coordination-59813