Governments worldwide are actively shaping the future of stablecoins. In the European Union, the MiCA framework has introduced strict licensing requirements and mandatory reserve backing for issuers. In the United States, draft legislation is being prepared to regulate stablecoin issuance and ensure proper audits. Across Latin America, adoption is outpacing regulation, with stablecoins already being used as everyday money. In Asia, approaches vary: countries like Singapore and the Philippines have embraced open adoption, while others such as China and India have imposed tighter restrictions.

Even though they are designed to remain stable, stablecoins still carry risks. The most discussed concern is reserve transparency, with debates over whether issuers are always fully backed. Stablecoins may also experience temporary depegging during times of market stress. Regulatory uncertainty adds another layer of risk, as rules differ significantly between regions and may change quickly. Finally, there are technology risks, including the potential for smart contract bugs or failures in the infrastructure that supports stablecoins.