IMF’s Bo Li questions stablecoin’s ‘money’ status even as it clocks $35T

• IMF flags of unresolved regulatory and classification problems surrounding stablecoins around the world.
• US and Hong Kong spark Stablecoin Regulatory race with bold legislative movements.

Stablecoins According to last year, he recorded an incredible $ 35.0 trillion in the transaction volume, according to data From the analysis of the visa on the chain. The average offer was around $ 194.6 billion.

While this data increases their central role in the crypto infrastructure, not everyone is convinced that he has so far gained the status of the “currency”.

This skepticism focused sharply on the world economic forum Summer Davos, where representatives of the IMF Bo Li Li Li Li Li he asked Two pointed questions:

Is Stablecoins money? If so, do we classify them like M0, M1 or something else?

AMF MD representative says everywhere “political experiments”

If he noted that global regulatory efforts are still experimental. While the US, Europe and parts of Asia have made early movements, coordination is missing.

Bo Li in his statement for the summer Davos 2025 said, said, said, said,

“A large number of regulatory experiments and digital currencies or stablecoins are currently being carried out worldwide.”

From the brilliant law in the US to the Hong Kong Stablecoin Decree for August 2025, national politicians are rapidly different.

Worry

In addition to classification challenges, if he emphasized enforcement as key concerns, warnings that fragmented national regulations could create obstacles in accordance with compliance and leave space for regulatory gaps.

He stressed the importance of harmonized international regulations and noted that the IMF cooperates with organizations such as the Council for the Financial Stability and the Basel Committee to provide cohesive direction of politics.

What lies before stablecoins?

Meanwhile, the control pressure did not slow down the growth of stablecoin.

With the market of stablecoin now overcome $ 250 billion in the offer and a large share in this capital parked in BTC is increasingly asking when another wave of capital rotation may occur.

Although skepticism persists, market signals begin to resemble the early stages of historical altcoin escapes, suggesting that the story of stablecoins could soon cause a wider shift through the landscape of digital assets.