Overview
- Bank of Israel Governor Amir Yaron said stablecoins can no longer be treated as marginal and framed them as a systemic payments issue.
- He set out regulatory pillars for private issuers that include full 1:1 reserve backing, liquid reserve assets, and scalable supervision.
- Officials pointed to scale metrics of a market capitalization above $300 billion and more than $2 trillion in monthly transactions, comparing the sector to a mid‑sized global bank.
- Policymakers flagged concentration risk, noting roughly 99% of activity is tied to Tether and Circle, which could amplify shocks if an issuer is disrupted.
- Yoav Soffer unveiled a digital‑shekel roadmap targeting 2026 with official recommendations due by year‑end, describing the CBDC as “central bank money for everything.”