币界网报道：Stablecoin Skepticism Grows as IMF Official Challenges Their Money Role The International Monetary Fund (IMF) has raised concerns over stablecoins' ability to function as reliable money, with Tobias Adrian, Director of the IMF’s Monetary and Capital Markets Department, questioning their stability and regulatory compliance. Speaking at a recent financial conference, Adrian highlighted that while stablecoins aim to maintain a stable value by pegging to assets like the U.S. dollar, they often lack transparency in reserve management and face liquidity risks during market stress. He emphasized that without robust oversight, stablecoins could pose systemic risks to financial systems, particularly in emerging markets where they are increasingly adopted. The IMF official also pointed out that many stablecoin issuers fail to meet the same regulatory standards as traditional financial institutions, leaving users exposed to potential losses. His remarks come amid growing scrutiny from global regulators, including the U.S. Treasury and the European Central Bank, which are evaluating stricter frameworks for stablecoin operations. Despite their popularity in crypto trading and remittances, Adrian argued that stablecoins should not be treated as equivalent to sovereign currencies, urging policymakers to prioritize financial stability over innovation. The debate reflects broader tensions between decentralized finance (DeFi) advocates and traditional financial authorities, with the IMF pushing for coordinated international regulations to mitigate risks. Meanwhile, major stablecoin issuers like Tether and Circle maintain that their products are fully backed and compliant, though independent audits remain sporadic. As adoption grows, the IMF’s stance signals heightened regulatory attention on stablecoins’ role in the global economy.