Experts urge policymakers to consider potential gains against the risks

When a new technology emerges, there is a consensus among regulators that any gains must be weighed against the risks, and such an argument can be made for "stablecoins", an innovative type of cryptocurrency.

Experts said that with the potential for widespread use of stablecoins globally, policymakers have a responsibility to complement and clarify legal and regulatory requirements, and to promote improvements in existing payment systems.

Chinese central bank officials, aware of the rise of stablecoins, have said that potential risks must be addressed before any type of new digital currency is introduced to the public.