Banka Slovenije has held an event entitled Stablecoins and their impact on financial stability, which saw discussions on stablecoins and their impact on users, financial institutions and businesses. We also touched on regulatory frameworks, security issues, and practical examples of use. The discussions shed light on key aspects of the fast-developing fintech environment.
In recent years new technologies have greatly accelerated the development of existing payment solutions, and encouraged the development of new forms of financial asset, from tokenised central bank money and tokenised deposits, to private cryptoassets, including stablecoins. As is the case with any new innovation, stablecoins bring to the market a host of new risks, as well as promising opportunities, and open up important questions around financial stability, consumer protection and market integrity. These are questions that lawmakers, regulators, market providers and other key stakeholders have to properly address.
Attendees were first welcomed by Primož Dolenc, and then heard a presentation about the basic attributes of stablecoins by Domen Božeglav, Banka Slovenije’s foremost authority on payment systems. This was followed by a roundtable chaired by Marko Pahor, vice-governor of Banka Slovenije.
The roundtable featured Nikolina Prah, state secretary at the Ministry of Finance, Primož Pinoza, deputy-director of the Securities Market Agency, Vasja Rant, professor at the University of Ljubljana’s School of Economics and Business, and Anja Blaj Zajc, president of Blockchain Think Tank Slovenia.
