BIS Report Urges Global Rules for Stablecoins and Tokenised Money

The Bank for International Settlements has released a special chapter of its Annual Economic Report 2026 arguing that current stablecoins lack key properties of trustworthy money and could destabilise bank funding and monetary sovereignty if adopted at scale. It calls for coordinated global regulation and a "unified ledger" system where central banks anchor value and commercial banks distribute programmable payments. This push toward internationally coordinated, programmable digital money built on central authority points toward centrally governed financial infrastructure capable of shaping how participation in the economy is granted.