A foundational BIS framework classifying stablecoins by design and reserve model and mapping their risks to regulatory options.
Anchors our regulation and backing-type narratives; pair with the GENIUS/MiCA compliance data and the backing-by-type chart.
Stablecoins should be regulated on a 'same risk, same regulation' basis (Arner, Auer & Frost, 2020, BIS WP 905).
| Research question | What are the design types, risks and appropriate regulatory treatment of stablecoins? |
| Methodology | Conceptual / policy analysis with a design taxonomy |
| Limitations | Pre-dates most large-scale empirical stablecoin data; conceptual rather than empirical. |
Douglas Arner, Raphael Auer, Jon Frost (2020). Stablecoins: risks, potential and regulation BIS Working Papers No. 905.
@techreport{arner2020stablecoinsrisks,
title = {Stablecoins: risks, potential and regulation},
author = {Douglas Arner and Raphael Auer and Jon Frost},
year = {2020},
institution = {Bank for International Settlements},
howpublished = {BIS Working Papers No. 905},
url = {https://www.bis.org/publ/work905.htm},
note = {Indexed by Stablecoin Beat},
}