Stablecoins Handle $35 Trillion in Transactions Amid Regulatory Uncertainty

Stablecoins processed $35 trillion in on-chain transactions over the past year, with an average supply around $195 billion. These figures highlight their role in facilitating trades, loans, and cross-border transfers.

Stablecoin On-Chain Traffic

Stablecoins have become essential for crypto trading, reaching a transaction volume of $35 trillion in 12 months.
Circulating supply remains stable at 194.6 billion, indicating readiness for market movements.
Traders frequently exchange stablecoins for Bitcoin and altcoins.

IMF Deputy MD Raises Money Question

IMF Deputy Managing Director Bo Li questioned the classification of stablecoins at the 2025 World Economic Forum.
This classification could impact bank reserves and regulatory frameworks.
Li noted that ongoing policy experiments may not withstand stress tests.

Key Takeaways: IMF’s Bo Li said regulatory uncertainty around stablecoins persists, especially regarding classification and enforcement.

National Rules Diverge

The US is advancing the GENIUS Act.
Europe is developing its own regulations.
Hong Kong plans to implement its Stablecoin Ordinance in August 2025.
This lack of global unity creates differing regulations across regions, increasing costs and confusion for businesses.

Global Bodies Seek Cooperation

Bo Li emphasized the risks of fragmented regulations allowing bad actors to operate unchecked.
The IMF is collaborating with the Financial Stability Board and Basel Committee for consistent guidance.

Market Keeps Growing

Stablecoin supply has exceeded 250 billion, with significant capital held in Bitcoin.
Analysts observe patterns suggesting potential altcoin breakouts, indicating possible future trading activity.

Stablecoins remain crucial in the cryptocurrency ecosystem.