The Wall Street Journal: Stablecoins may pose risks to the financial system

According to The Wall Street Journal, stablecoins as a 'private currency' may pose structural risks to the financial system. Despite the GENIUS Act and CLARITY Act promoting compliance, stablecoins such as USDT and USDC may still face redemption crises due to fluctuations in anchored assets. According to Chainalysis data cited in the article, stablecoins account for 84% of illegal cryptocurrency activities, while real economy payments account for less than 1%. Stablecoins may require stricter regulation and integration into the central bank system.