{"id":59639,"date":"2026-04-21T13:00:46","date_gmt":"2026-04-21T13:00:46","guid":{"rendered":"https:\/\/crypto-globe.com\/?p=59639"},"modified":"2026-04-22T15:03:05","modified_gmt":"2026-04-22T15:03:05","slug":"a-bis-figyelmeztet-a-dollaralapu-stablecoinok-terhelhetik-a-bankokat-es-a-gazdasagot-a-szakertok-szerint-a-szabalyozas-nem-elegendo","status":"publish","type":"post","link":"https:\/\/crypto-globe.com\/hu\/a-bis-figyelmeztet-a-dollaralapu-stablecoinok-terhelhetik-a-bankokat-es-a-gazdasagot-a-szakertok-szerint-a-szabalyozas-nem-elegendo\/","title":{"rendered":"A BIS figyelmeztet: a doll\u00e1ralap\u00fa stablecoinok terhelhetik a bankokat \u00e9s a gazdas\u00e1got. A szak\u00e9rt\u0151k szerint a szab\u00e1lyoz\u00e1s nem elegend\u0151"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>A hagyom\u00e1nyos valut\u00e1khoz k\u00f6t\u00f6tt kriptovalut\u00e1k, vagyis a stablecoinok gyorsan n\u00f6vekv\u0151 piaca egyre nagyobb szab\u00e1lyoz\u00f3i figyelem k\u00f6z\u00e9ppontj\u00e1ba ker\u00fcl. A leg\u00fajabban a Nemzetk\u00f6zi Fizet\u00e9sek Bankja (BIS) figyelmeztet a lehets\u00e9ges kock\u00e1zatokra, amelyek szerint k\u00fcl\u00f6n\u00f6sen a doll\u00e1ralap\u00fa stablecoinok probl\u00e9m\u00e1t jelenthetnek a p\u00e9nz\u00fcgyi stabilit\u00e1s \u00e9s a bankok m\u0171k\u00f6d\u00e9se szempontj\u00e1b\u00f3l.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A cikk tartalma &#8211; doll\u00e1ralap\u00fa stablecoinok:<\/h2>\n\n\n<div class=\"wp-block-aioseo-table-of-contents\"><ul><li><a class=\"aioseo-toc-item\" href=\"#aioseo-stablecoiny-se-priblizuji-beznym-penezum-3\">Stablecoiny se p\u0159ibli\u017euj\u00ed b\u011b\u017en\u00fdm pen\u011bz\u016fm<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-usdt-a-usdc-maji-bliz-k-investicnim-produktum-7\">USDt a USDC maj\u00ed bl\u00ed\u017e k investi\u010dn\u00edm produkt\u016fm<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-riziko-retezove-reakce-v-dobe-stresu-10\">Dolarov\u00e9 stablecoiny &#8211; Riziko \u0159et\u011bzov\u00e9 reakce v dob\u011b stresu<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-regulace-zatim-nestaci-13\">Regulace zat\u00edm nesta\u010d\u00ed<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-evropa-zprisnuje-pristup-17\">Dolarov\u00e9 stablecoiny &#8211; Evropa zp\u0159\u00eds\u0148uje p\u0159\u00edstup<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-tlak-sili-i-ve-velke-britanii-a-svycarsku-20\">Tlak s\u00edl\u00ed i ve Velk\u00e9 Brit\u00e1nii a \u0160v\u00fdcarsku<\/a><\/li><\/ul><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"aioseo-stablecoiny-se-priblizuji-beznym-penezum-3\">A stablecoinok k\u00f6zelednek a hagyom\u00e1nyos p\u00e9nzhez<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A BIS vez\u00e9rigazgat\u00f3ja, Pablo Hern\u00e1ndez de Cos <a href=\"https:\/\/www.bis.org\/speeches\/sp260420.pdf\" target=\"_blank\" rel=\"noopener\" title=\"\">a Bank of Japan toki\u00f3i szemin\u00e1rium\u00e1n r\u00e1mutatott<\/a>, hogy ha a stablecoinok jelent\u0151sen n\u00f6vekednek, versenyre kelhetnek a hagyom\u00e1nyos p\u00e9nzzel. Szerinte egy ilyen fejlem\u00e9ny \u201ealapvet\u0151 k\u00f6vetkezm\u00e9nyekkel&#8221; j\u00e1rna a p\u00e9nz\u00fcgyi stabilit\u00e1sra \u00e9s a gazdas\u00e1gpolitik\u00e1ra n\u00e9zve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">B\u00e1r a <a href=\"https:\/\/crypto-globe.com\/eurove-stablecoiny-dominuji-trhu-mimo-dolar-co-za-tim-stoji-a-proc-jejich-vyznam-roste\/\" target=\"_blank\" rel=\"noopener\" title=\"\">stablecoinok<\/a> technol\u00f3giai el\u0151ny\u00f6ket k\u00edn\u00e1lnak, p\u00e9ld\u00e1ul gyorsabb hat\u00e1rokon \u00e1tny\u00fal\u00f3 \u00e1tutal\u00e1sokat vagy okosszerz\u0151d\u00e9sekhez val\u00f3 csatlakoz\u00e1st, jelenlegi form\u00e1jukban a BIS szerint m\u00e9g mindig nem felelnek meg a sz\u00e9les k\u00f6rben haszn\u00e1lt fizet\u00e9si eszk\u00f6zzel szembeni k\u00f6vetelm\u00e9nyeknek.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\">P\u0159e\u010dt\u011bte si tak\u00e9: <a href=\"https:\/\/crypto-globe.com\/top-10-zemi-sveta-adopce-kryptomen\/\" target=\"_blank\" rel=\"noopener\" title=\"\">TOP 10 zem\u00ed s nejrychlej\u0161\u00ed adopc\u00ed kryptom\u011bn<\/a><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"aioseo-usdt-a-usdc-maji-bliz-k-investicnim-produktum-7\">Az USDt \u00e9s USDC k\u00f6zelebb \u00e1ll a befektet\u00e9si term\u00e9kekhez<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A BIS szerint a legnagyobb doll\u00e1ralap\u00fa stablecoinok, mint az USDt \u00e9s az USDC, ink\u00e1bb befektet\u00e9si eszk\u00f6z\u00f6k jelleg\u00e9t mutatj\u00e1k, mint digit\u00e1lis k\u00e9szp\u00e9nz\u00e9t. R\u00e1mutat a tokenek visszav\u00e1s\u00e1rl\u00e1sakor felsz\u00e1m\u00edtott d\u00edjakra \u00e9s felt\u00e9telekre, valamint azokra a helyzetekre, amikor az \u00e1ruk a m\u00e1sodlagos piacokon elt\u00e9r a n\u00e9v\u00e9rt\u00e9kt\u0151l.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">De Cos szerint \u00e9ppen ezek a tulajdons\u00e1gok k\u00f6zel\u00edtik a stablecoinokat a t\u0151zsd\u00e9n kereskedett alapok, vagyis az <a href=\"https:\/\/crypto-globe.com\/blackrock-prichazi-s-novym-etf-na-ethereum-ktere-muze-investorum-vydelavat-i-pasivni-odmeny\/\" target=\"_blank\" rel=\"noopener\" title=\"\">ETF<\/a>-ek m\u0171k\u00f6d\u00e9s\u00e9hez. Ugyanakkor figyelmeztet, hogy vel\u00fck ellent\u00e9tben a stablecoinok jelent\u0151sebb rendszerszint\u0171 kock\u00e1zatokat teremthetnek, k\u00fcl\u00f6n\u00f6sen hirtelen t\u0151keki\u00e1raml\u00e1s eset\u00e9n.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"aioseo-riziko-retezove-reakce-v-dobe-stresu-10\">Doll\u00e1ralap\u00fa stablecoinok &#8211; A l\u00e1ncreakci\u00f3 kock\u00e1zata stressz idej\u00e9n<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A stablecoin-kibocs\u00e1t\u00f3k tartal\u00e9kaikat els\u0151sorban r\u00f6vid lej\u00e1rat\u00fa \u00e1llamk\u00f6tv\u00e9nyekben \u00e9s banki bet\u00e9tekben tartj\u00e1k. V\u00e1ls\u00e1gforgat\u00f3k\u00f6nyv eset\u00e9n a gyors kivon\u00e1sok ezeket a szerepl\u0151ket k\u00e9nyszer\u00e9rt\u00e9kes\u00edt\u00e9sre k\u00e9nyszer\u00edthetik, \u00e9ppen akkor, amikor a piacok am\u00fagy is nyom\u00e1s alatt \u00e1llnak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Egy ilyen fejlem\u00e9ny nemcsak a k\u00f6tv\u00e9nypiacok zavar\u00e1hoz vezethet, hanem a fesz\u00fclts\u00e9g \u00e1tterjed\u00e9s\u00e9hez is a bankszektor fel\u00e9. A BIS ebben az \u00f6sszef\u00fcgg\u00e9sben az \u00fagynevezett fert\u0151z\u00e9s kock\u00e1zata el\u0151tt figyelmeztet, amikor az egyik szegmens probl\u00e9m\u00e1i gyorsan \u00e1tterjednek a p\u00e9nz\u00fcgyi rendszer tov\u00e1bbi r\u00e9szeire.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"aioseo-regulace-zatim-nestaci-13\">A szab\u00e1lyoz\u00e1s egyel\u0151re nem el\u00e9g<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Tov\u00e1bbi probl\u00e9ma maga a stablecoinok infrastrukt\u00far\u00e1ja. Ezek gyakran nyilv\u00e1nos blokkl\u00e1ncokban m\u0171k\u00f6dnek \u00e9s nem \u0151rz\u00f6tt p\u00e9nzt\u00e1rc\u00e1kat haszn\u00e1lnak, ami azt jelenti, hogy a tranzakci\u00f3k jelent\u0151s r\u00e9sze a p\u00e9nzmos\u00e1s \u00e9s terrorizmusfinansz\u00edroz\u00e1s elleni standardiz\u00e1lt ellen\u0151rz\u00e9si mechanizmusokon k\u00edv\u00fcl zajlik.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tov\u00e1bbi int\u00e9zked\u00e9sek n\u00e9lk\u00fcl a be- \u00e9s kil\u00e9p\u00e9si pontokon a stablecoinok a BIS szerint illeg\u00e1lis tev\u00e9kenys\u00e9gek sz\u00e1m\u00e1ra is vonz\u00f3ak lehetnek. \u00c9ppen ez\u00e9rt s\u00fcrget er\u0151sebb nemzetk\u00f6zi szab\u00e1lyoz\u00e1si koordin\u00e1ci\u00f3t.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"aioseo-ctete-take-coinbase-recenze-kryptomenove-burzy\">\u010ct\u011bte tak\u00e9: <a href=\"https:\/\/crypto-globe.com\/coinbase-recenze-kryptomenove-burzy\/\" title=\"Coinbase: Recenze kryptom\u011bnov\u00e9 burzy\">Coinbase: Recenze kryptom\u011bnov\u00e9 burzy<\/a><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"aioseo-evropa-zprisnuje-pristup-17\">Doll\u00e1ralap\u00fa stablecoinok &#8211; Eur\u00f3pa szigor\u00edt<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A n\u00f6vekv\u0151 aggodalmakra az eur\u00f3pai int\u00e9zm\u00e9nyek is reag\u00e1lnak. Denis Beau, a Bank of France k\u00e9pvisel\u0151je <a href=\"https:\/\/www.bis.org\/review\/r260331b.htm\" target=\"_blank\" rel=\"noopener\" title=\"\">felsz\u00f3l\u00edtotta<\/a> az Eur\u00f3pai Uni\u00f3t, hogy a jelenlegi szab\u00e1lyoz\u00e1si kereten t\u00falmen\u0151en korl\u00e1tozza az eur\u00f3t\u00f3l elt\u00e9r\u0151 valut\u00e1khoz k\u00f6t\u00f6tt stablecoinok haszn\u00e1lat\u00e1t a mindennapi fizet\u00e9sekben.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Az <a href=\"https:\/\/trader-magazine.com\/hu\/hirek\/az-ekb-tavaly-rekord-veszteseget-termelt-a-magas-kamatkoltsegek-miatt\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Eur\u00f3pai K\u00f6zponti Bank<\/a> r\u00e1ad\u00e1sul r\u00e1mutat, hogy a stablecoinok bizonyos tulajdons\u00e1gokat megosztanak a tokeniz\u00e1lt p\u00e9nzpiaci alapokkal. Mindk\u00e9t t\u00edpus\u00fa eszk\u00f6z likvidit\u00e1s-transzform\u00e1ci\u00f3val dolgozik \u00e9s hajlamos a p\u00e1nikszer\u0171 kivon\u00e1sokra, mik\u00f6zben a szab\u00e1lyoz\u00e1si k\u00fcl\u00f6nbs\u00e9gek befoly\u00e1solhatj\u00e1k, hogyan terjed \u00e1t az esetleges stressz a sz\u00e9lesebb p\u00e9nz\u00fcgyi rendszerbe.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"574\" src=\"https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-1024x574.jpeg\" alt=\"stablecoin-ok\" class=\"wp-image-59585\" srcset=\"https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-1024x574.jpeg 1024w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-300x168.jpeg 300w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-768x430.jpeg 768w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-1536x861.jpeg 1536w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-2048x1148.jpeg 2048w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-150x84.jpeg 150w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-696x390.jpeg 696w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-1068x599.jpeg 1068w, https:\/\/crypto-globe.com\/wp-content\/uploads\/2026\/04\/stablecoin7654356677654333222-1920x1076.jpeg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"aioseo-tlak-sili-i-ve-velke-britanii-a-svycarsku-20\">A nyom\u00e1s er\u0151s\u00f6dik Nagy-Britanni\u00e1ban \u00e9s Sv\u00e1jcban is<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A stablecoinokr\u00f3l az Eur\u00f3pai Uni\u00f3n k\u00edv\u00fcl is folyik a vita. Az Egyes\u00fclt Kir\u00e1lys\u00e1gban a parlament fels\u0151h\u00e1za foglalkozott vel\u00fck, amely <a href=\"https:\/\/cointelegraph.com\/news\/uk-lords-grill-coinbase-over-stablecoins\" target=\"_blank\" rel=\"noopener\" title=\"\">t\u00f6bbek k\u00f6z\u00f6tt megk\u00e9rdezte a Coinbase k\u00e9pvisel\u0151it<\/a>, hogy a stablecoinok elsz\u00edvhatj\u00e1k-e a bet\u00e9teket a bankokb\u00f3l, vagy hozz\u00e1j\u00e1rulhatnak-e a Silicon Valley Bank buk\u00e1s\u00e1hoz hasonl\u00f3 v\u00e1ls\u00e1gokhoz.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ek\u00f6zben a brit korm\u00e1ny saj\u00e1t szab\u00e1lyoz\u00e1si rendszert k\u00e9sz\u00edt el\u0151 a fiat valut\u00e1kkal fedezett stablecoinok sz\u00e1m\u00e1ra. Sv\u00e1jc viszont k\u00eds\u00e9rleti megk\u00f6zel\u00edt\u00e9st pr\u00f3b\u00e1l ki. Az UBS bank m\u00e1s int\u00e9zm\u00e9nyekkel egy\u00fctt <a href=\"https:\/\/cointelegraph.com\/news\/ubs-five-banks-swiss-franc-stablecoin-sandbox\" target=\"_blank\" rel=\"noopener\" title=\"\">elind\u00edtott<\/a> egy sv\u00e1jci frankhoz k\u00f6t\u00f6tt stablecoin pilot projektet, amely sandbox rendszerben m\u0171k\u00f6dik, \u00e9s a blokkl\u00e1nc felhaszn\u00e1l\u00e1si lehet\u0151s\u00e9geit hivatott igazolni a szab\u00e1lyozott p\u00e9nz\u00fcgyi rendszerben.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"aioseo-mohlo-by-se-vam-libit-bitcoin-ceka-na-fed\">Mohlo by se V\u00e1m l\u00edbit: <a href=\"https:\/\/crypto-globe.com\/bitcoin-ceka-na-fed-aby-mohl-cenove-rust\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Bitcoin \u010dek\u00e1 na Fed<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>A hagyom\u00e1nyos valut\u00e1khoz k\u00f6t\u00f6tt kriptovalut\u00e1k, vagyis a stablecoinok gyorsan n\u00f6vekv\u0151 piaca egyre nagyobb szab\u00e1lyoz\u00f3i figyelem k\u00f6z\u00e9ppontj\u00e1ba ker\u00fcl. A leg\u00fajabban a Nemzetk\u00f6zi Fizet\u00e9sek Bankja (BIS) figyelmeztet a lehets\u00e9ges kock\u00e1zatokra, amelyek szerint k\u00fcl\u00f6n\u00f6sen a doll\u00e1ralap\u00fa stablecoinok probl\u00e9m\u00e1t jelenthetnek a p\u00e9nz\u00fcgyi stabilit\u00e1s \u00e9s a bankok m\u0171k\u00f6d\u00e9se szempontj\u00e1b\u00f3l. A cikk tartalma &#8211; doll\u00e1ralap\u00fa stablecoinok: A stablecoinok k\u00f6zelednek a hagyom\u00e1nyos [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":59592,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[170,15],"tags":[801,87,16,342],"class_list":["post-59639","post","type-post","status-publish","format-standard","has-post-thumbnail","category-kriptovalutak","category-kryptomeny","tag-bis","tag-kriptovalutak","tag-kryptomeny","tag-stablecoin"],"aioseo_notices":[],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"aioseo_meta":{"seo_title":"stablecoin-ok: Doll\u00e1ralap\u00fa stablecoinok: A BIS figyelmeztet","meta_description":"stablecoin-ok. A Nemzetk\u00f6zi Fizet\u00e9sek Bankja szerint a doll\u00e1ralap\u00fa stablecoinok, mint az USDt \u00e9s USDC, kock\u00e1zatot jelentenek a p\u00e9nz\u00fcgyi stabilit\u00e1sra \u00e9s a ban...","focus_keyword":"stablecoin-ok"},"_links":{"self":[{"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/posts\/59639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/comments?post=59639"}],"version-history":[{"count":1,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/posts\/59639\/revisions"}],"predecessor-version":[{"id":59644,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/posts\/59639\/revisions\/59644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/media\/59592"}],"wp:attachment":[{"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/media?parent=59639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/categories?post=59639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-globe.com\/hu\/wp-json\/wp\/v2\/tags?post=59639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}