{"id":49554,"date":"2025-09-27T08:30:08","date_gmt":"2025-09-27T01:30:08","guid":{"rendered":"https:\/\/hbbgroup.net\/stablecoin-boom-risks-cryptoization-as-fragmented-rules-leave-economies-exposed-moodys\/"},"modified":"2025-09-27T08:30:08","modified_gmt":"2025-09-27T01:30:08","slug":"stablecoin-boom-risks-cryptoization-as-fragmented-rules-leave-economies-exposed-moodys","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/stablecoin-boom-risks-cryptoization-as-fragmented-rules-leave-economies-exposed-moodys\/","title":{"rendered":"Stablecoin boom risks \u2018cryptoization\u2019 as fragmented rules leave economies exposed \u2014 Moody\u2019s"},"content":{"rendered":"
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As stablecoin and cryptocurrency adoption accelerate worldwide, emerging markets face mounting risks to monetary sovereignty and financial stability, according to a new report from Moody\u2019s Ratings.\u00a0<\/p>\n

The credit rating service warned that widespread use of stablecoins \u2014 tokens pegged 1:1 with another asset, usually a fiat currency like the US dollar \u2014 could weaken central banks\u2019 control over interest rates and exchange rate stability, a trend called \u201ccryptoization.\u201d\u00a0<\/p>\n

Banks could also \u201cface deposit erosion if individuals shift savings from domestic bank deposits into stablecoins or crypto wallets,\u201d the report said<\/a>.\u00a0<\/p>\n

\"China,
Crypto adoption risks in different markets. Source: <\/em>Moody\u2019s<\/em><\/a><\/figcaption><\/figure>\n

Moody\u2019s said digital asset regulations around the world remain fragmented, with fewer than one-third of countries implementing comprehensive rules, exposing many economies to volatility and systemic shocks.<\/p>\n

While regulatory clarity and enhanced investment channels often drive adoption in advanced economies, Moody\u2019s said the fastest growth is in emerging markets \u2014 particularly in Latin America, Southeast Asia and Africa \u2014 where usage stems from remittances, mobile payments and inflation hedging.<\/p>\n

\u201c[\u2026] the rapid growth of stablecoins, despite their perceived safety, introduces systemic vulnerabilities: insufficient oversight could trigger runs on reserves and force costly government bailouts if pegs collapse,” Moody\u2019s said.<\/p>\n

The agency said that the divergence highlights not only the potential for financial inclusion but also the mounting risks of financial instability if oversight fails to keep pace.<\/p>\n

In 2024, global ownership of digital assets reached an estimated 562 million people, up 33% from the previous year.\u00a0<\/p>\n

Related: <\/strong><\/em>Singapore New Crypto Rules: $200K Fines, Jail Risk<\/strong><\/em><\/a><\/p>\n

Regulations in Europe,\u00a0the US and China accelerate\u00a0<\/h2>\n

Though much of the world still lacks clear rules around cryptocurrency and stablecoins, Europe, the United States and even China have been making progress over the last year.<\/p>\n

On Dec. 30, 2024, after a phased rollout, the remaining provisions of the EU\u2019s Markets in Crypto-Assets (MiCA)<\/a> regime were implemented. MiCA is the bloc\u2019s crypto rulebook, standardizing licensing for service providers and setting reserve and disclosure requirements for stablecoins.<\/p>\n

In the US, the GENIUS Act<\/a> became law on July 18, establishing enforceable standards for issuing and backing stablecoins.<\/p>\n