South African Reserve Bank Governor Lesetja Kganyago cautioned about the rising popularity of stablecoins, expressing concerns that these cryptocurrency assets could “break apart.” This warning comes amidst a broader trend of global central banks highlighting the risks of stablecoins, particularly during economic stress when de-pegging events can occur. Meanwhile, South African financial authorities are actively working to integrate stablecoins into current regulatory frameworks to address the challenges and risks posed by their swift adoption.
South African Reserve Bank warns of stablecoin risks breaking financial systems
