IMF Warns of Stablecoin Risks, Says Central Banks Could Lose Control
IMF Warns of Stablecoin Risks, Says Central Banks Could Lose Control
The International Monetary Fund (IMF) has issued a strong warning that the proliferation of stablecoins could threaten the status of sovereign fiat currencies and weaken national monetary sovereignty.
According to cryptocurrency-focused outlet The Crypto Basic on February 10 (local time), the IMF identified key risk factors that stablecoins could pose to the financial system through its official channels. The IMF expressed particular concern that in economically fragile countries, a growing preference for dollar-pegged stablecoins over domestic currencies could erode central banks’ control.
The IMF analyzed that in countries suffering from high inflation and weak institutions, stablecoins could replace legal tender, triggering currency substitution and sudden capital outflows. It warned that if large amounts of funds leave a country in a short period, economic instability could be significantly exacerbated. A lack of clear regulation and legal oversight for globally used stablecoins was also cited as a major risk factor.
The potential for misuse in illicit transactions and money laundering was also raised. The IMF cautioned that weak know-your-customer (KYC) procedures and operational flaws in stablecoins could undermine trust in the financial system. This view aligns with that of the European Union’s European Systemic Risk Board (ESRB), which in September 2025 voiced opposition to multi-issuer stablecoins over concerns about damaging the value of the euro.
Nevertheless, the IMF acknowledged that stablecoins possess innovative potential to reshape cross-border payments and capital flows. With appropriate legal frameworks and regulatory structures in place, they could help reduce international remittance costs and improve efficiency. Ripple President Monica Long predicted that by the end of 2026, about 50% of Fortune 500 companies would be exposed to cryptocurrencies, including stablecoins, and that stablecoins would become the backbone of global payments.
Ultimately, while assessing that the influence of the stablecoin market has reached a level that cannot be ignored, the IMF emphasized that strong government oversight is essential. If regulatory gaps persist, the currency value of poorer countries is likely to weaken further, underscoring the urgent need for international cooperation to ensure financial integrity and consumer protection.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on it. The content should be interpreted solely for informational purposes.*
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