Foresight News 消息，据 The Block 报道，国际清算银行（BIS）发布报告称，稳定币未能通过「三大关键测试」，这些测试是使其成为货币体系支柱的必要条件，其中包括唯一性、弹性和完整性。「未来货币体系中，稳定币等创新将扮演何种角色仍有待观察，但稳定币在三个理想的货币特征方面表现不佳，因此很难成为未来货币体系的主体。」但同时其表示，稳定币确实具备一些优势，如可编程性、匿名性和易于访问。此外，其「技术属性意味着它们可能提供更低的成本和更快的交易速度」，尤其在跨境支付方面。

<p>Foresight News 消息，据 The Block 报道，国际清算银行（BIS）发布报告称，稳定币未能通过「三大关键测试」，这些测试是使其成为货币体系支柱的必要条件，其中包括唯一性、弹性和完整性。「未来货币体系中，稳定币等创新将扮演何种角色仍有待观察，但稳定币在三个理想的货币特征方面表现不佳，因此很难成为未来货币体系的主体。」但同时其表示，稳定币确实具备一些优势，如可编程性、匿名性和易于访问。此外，其「技术属性意味着它们可能提供更低的成本和更快的交易速度」，尤其在跨境支付方面。</p>

国际清算银行：稳定币未能通过「三大关键测试」，很难成为未来货币体系的主体

According to <Foresight News> and <The Block> report, the Bank for International Settlements (BIS) released a report stating that stablecoins have failed to pass the "three key tests", which are necessary conditions for becoming a pillar of the monetary system, including uniqueness, resilience, and completeness. "It remains to be seen what role innovations like stablecoins will play in the future monetary system, but stablecoins perform poorly in three ideal monetary characteristics, making it difficult to become the main body of the future monetary system." However, it also noted that stablecoins do have some advantages, such as programmability, anonymity, and ease of access. Additionally, their "technical attributes suggest they may provide lower costs and faster transaction speeds", especially in cross-border payments.

<p>According to Foresight News, citing The Block, the Bank for International Settlements (BIS) released a report stating that stablecoins have failed to pass the "three key tests" necessary to become a pillar of the monetary system, including uniqueness, resilience, and completeness. "It remains to be seen what role innovations like stablecoins will play in the future monetary system, but their poor performance in three ideal monetary characteristics makes it difficult for them to become the main body of the future monetary system." However, it also noted that stablecoins do have some advantages, such as programmability, anonymity, and accessibility. Additionally, their "technical attributes suggest they may offer lower costs and faster transaction speeds," especially in cross-border payments.</p>

Bank for International Settlements: Stablecoins have failed the "three key tests" and are unlikely to become the mainstay of the future monetary system

Next Week's Key Preview

December 22nd

Aster: Phase 5 airdrop will begin on December 22nd and last for 6 weeks;

Espresso will open airdrop registration on December 22nd;

December 23rd

The U.S. Bureau of Economic Analysis will release third-quarter GDP data on December 23rd;

December 24th
U.S. and European stock markets will be closed for Christmas, and whether a "Christmas rally" will materialize remains uncertain;

The U.S. will release initial jobless claims for the week ending December 20th;...

Must-watch items next week: US Bureau of Economic Analysis to release Q3 GDP data; Aster launches fifth phase of airdrop (December 22-28).

Following the controversy surrounding Fundstrat's Bitcoin views, co-founder Tom Lee responded, stating that the "contradictory predictions" seen by outsiders were actually research conclusions from different positions and timelines, not internal disagreements. Previously, Sean Farrell, head of digital asset strategy at Fundstrat, suggested that Bitcoin might retrace to the $60,000-$65,000 range in the first half of 2026; while Tom Lee believed Bitcoin could reach new highs, even surging to $200,000 as early as the beginning of 2026. A Fundstrat...

Tom Lee responds to Fundstrat's "contradictory" views on Bitcoin: Different positions, different timelines, not internal disagreements.

Source: Galaxy Research
Translation: Jinse Finance
Bitcoin's closing price in 2025 is expected to be roughly the same as the level at the beginning of the year.
The cryptocurrency market experienced a genuine bullish wave in the first ten months of this year. Regulatory reforms continued to advance, ETFs continued to attract funds, and on-chain activity became increasingly active. Bitcoin hit an all-time high of $126,080 on October 6th.
However, the market failed to deliver the expected breakout after the initial frenzy; instead, it experienced rotation, repricing, and rebalancing. This was driven by factors such as unmet macroeconomic expectations, a shift in investment narratives, leveraged liquidations, and the actions of whale...