Policy Event Β· High impact

BIS Stablecoin Dollarisation Study Raises Capital Control Risk

BIS researchers found dollar stablecoin inflows across more than 130 economies are largely outside traditional capital-control channels. The paper shifts stablecoin oversight from issuer reserves alone toward monetary control, cross-border flow monitoring and macroprudential risk.

High impact🌐 GlobalStablecoinRegulationCBDCUSDTUSDCBIS

APAC FINSTAB analysis

Although this is outside core APAC, it is relevant because global market-structure, enforcement, and stablecoin precedents often shape licensing expectations for APAC exchanges, issuers, custodians, and DeFi teams. Protocols/assets in scope: USDT, USDC. Named institutions or platforms: BIS. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

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Related policy events

Google Tightens UAE Crypto And CFD Advertising Licensing Requirements

Google Ads updated its UAE financial-services advertising policy, requiring advertisers promoting crypto exchanges, wallets, CFDs or forex services to hold a CMA, DFSA, FSRA or VARA licence and complete Google certification from 21 October. The change ties customer-acquisition eligibility to licence scope, target geography and advertising disclosures.

High impact🌐 AERegulationLicensing

BIS Research Flags Stablecoin Substitution Risk For Bank Deposits

A BIS working paper finds a measurable inverse relationship between bank-deposit rates and stablecoin growth, highlighting the potential for deposit substitution. Banks, issuers and regulators should incorporate interest-rate, redemption and deposit-migration scenarios into liquidity and prudential monitoring.

High impact🌐 GlobalStablecoinBankingRegulationUSDTUSDC