Bank for International Settlements report: Stable Coin cannot become the cornerstone of coin support

【ChainNews】According to PANews, the report from the Bank for International Settlements pointed out that digital assets pegged to legal tender coins failed to pass the three key tests of singularity, elasticity, and integrity, and therefore cannot become the cornerstone of coin. The authors of the report stated that while Stablecoin has the programmability, pseudo-anonymity, and other advantages, its technical characteristics may lead to lower cross-border payment costs and faster speed in the cryptocurrency ecosystem, and its role in countries with high inflation is increasingly prominent. However, compared with tools such as Central Bank and commercial bank issuance, it may damage the sovereignty of government coins and promote criminal activities, and should not be considered as cash. Specifically, Stablecoin faces difficulties in passing the elasticity test, and additional issuance requires full payment in advance; centralized entity issuance, differing standards, and distinct settlement guarantees disrupt singularity; and not all issuers follow standardized KYC/AML guidelines, leading to shortcomings in integrity.