Former BIS Manager Carstens Says Stablecoins Need Global Rules to Coexist With Fiat Money

Former Bank for International Settlements (BIS) general manager Agustín Carstens said stablecoins could support financial inclusion and innovation, while emphasizing that they require global regulatory frameworks to operate alongside fiat currencies. According to Cointelegraph, Carstens argued that clear, internationally coordinated rules are necessary to ensure stablecoins can coexist with traditional money systems rather than develop in regulatory gaps.

Carstens’ comments framed stablecoins as a technology with potential benefits, but one that also raises policy and oversight questions that cannot be addressed effectively through fragmented national approaches. He highlighted the importance of establishing regulatory structures at a global level, suggesting that consistent standards would help integrate stablecoins into the broader financial system while maintaining the role of fiat money. The remarks focused on balancing innovation with safeguards, positioning regulation as a prerequisite for stablecoins to function in parallel with existing currencies without undermining monetary frameworks.