BIS Warns Stablecoins Are Breaking Capital Controls as Dollarization Accelerates

The Bank for International Settlements (BIS) says U.S. dollar-pegged stablecoins are repeating a pattern central banks have watched for decades, and the regulatory tools that used to work no longer apply. A Bank for International Settlements (BIS) working paper published in July 2026 by BIS economists Boris Hofmann, Aaron Mehrotra, and Jan Paulick compares the […]