Global Financial Watchdog Makes Stablecoins Top Priority Ahead of G20 Summit

Key Points

1. FSB Chair Andrew Bailey warns that unchecked stablecoins could undermine financial trust and oversight, citing underexplored risks due to rapid market developments.

2. The global stablecoin market settled over $27.6 trillion in transactions in Q1 2025, doubling Visa's 2023 annual volume, with Ethereum dominating digital payments infrastructure.

3. The U.S. GENIUS stablecoin bill, which passed the Senate, aims to provide regulatory clarity for stablecoins, potentially boosting Ethereum's role in the dollar-based crypto economy.

4. Bailey advocates for central bank digital currencies (CBDCs) over private stablecoins, emphasizing the need to preserve the 'singleness of money' and financial stability.

5. Ethereum's price surged past $3,000 amid optimism around the GENIUS Act, with its network hosting the majority of stablecoin supply ($124.5 billion as of May 2025).