According to the latest news, the Bank for International Settlements (BIS) recently issued a thought-provoking annual report questioning the future role of stablecoin. The report, focusing on the next generation of finance, points out that although stablecoin plays an important role in the cryptocurrency ecosystem, it does not meet the three key criteria that constitute the core of a currency coin.

The report points out that Stable Coin performs poorly in the three core characteristics of uniformity, flexibility, and completeness, making it difficult to become the backbone of future coins. Nevertheless, BIS also acknowledges that Stable Coin has some advantages, such as programmability, pseudonymity, and providing convenient access for new users. From a technical perspective, Stable Coin may bring lower costs and faster advantages in cross-border payments.

However, the report also warned of the systemic risks that Stablecoin may bring. Compared to the currency issued by central banks, Stablecoin may weaken the sovereign currency of governments, and even in some cases lead to 'implicit dollarization.' In addition, Stablecoin may also facilitate illegal activities, which has raised concerns in the regulatory field.

It is worth noting that Stablecoin still plays an important role in certain specific environments. For example, in countries facing high inflation, strict capital controls, or difficulties in obtaining US dollar accounts, Stablecoin serves as an alternative choice, providing users with a channel for funds to enter and exit.

The report has sparked widespread discussion in the financial sector about the future of Stablecoin. Although BIS is cautious about Stablecoin, its position and role in the Cryptocurrency ecosystem are still significant. As the digital coin field continues to evolve, the role and positioning of Stablecoin may continue to evolve, becoming a focal point of attention for regulatory authorities and market participants.