BIS compares rules on who may issue stablecoins and what issuers may do
Key Takeaways
- 01The BIS review compares stablecoin-issuer frameworks across issuance, redemption, reserve management, lending, staking and custody.
- 02Regulatory frameworks can determine which types of entities may issue stablecoins, including whether banks, payment firms or other institutions are eligible.
- 03Rules governing reserve management and redemption are central to an issuer’s ability to support stablecoin holders’ claims.
- 04Stablecoin firms may face jurisdiction-specific limits on related activities such as lending, staking and custody.
The Bank for International Settlements (BIS) has published a comparative review of stablecoin-issuer frameworks, focusing on which entities may issue stablecoins and which related activities regulators permit or restrict.
Published on 27 August 2026, the review covers rules affecting stablecoin issuance and redemption, reserve management, lending, staking and custody. These activities matter because the issuer’s ability to redeem tokens and manage reserve assets can directly affect a stablecoin’s reliability and the risks faced by users.
The comparison highlights that stablecoin regulation is not limited to the token itself. Frameworks may determine whether banks, licensed payment firms or other entities can act as issuers, and may impose different limits on an issuer’s use of reserves or involvement in services such as lending and staking.