This phenomenon raises delicate questions regarding IT risks, personal data processing and management, the correct functioning of the payment system, financial stability and the transmission of monetary policy. There is also the risk of tax evasion, money laundering and the 5/7  BIS central bankers' speeches  financing of terrorism. The complexity and global nature of these issues make regulation at international level essential.
The attention of regulators, central banks and supervisory authorities is at a maximum. The finance ministers of the leading European countries recently published a joint declaration on the risks stemming from the possible introduction of stablecoins by non-bank operators. The European Commission has proposed regulations to be applied to issuers of these instruments and to operators providing related services.