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The Financial Stability Board is calling for a “unified global approach” to supervising fiat-pegged cryptocurrencies, or if that’s not possible, a potential ban on those so-called “stablecoins.” So reports CryptoBriefing.

mixture 69523 640smallThe recently published document enumerates some of the regulatory challenges presented by global stablecoins and makes ten targeted recommendations to central banks and jurisdictional-level G20 authorities. “The Board seems especially concerned with the macro-financial problems that could arise if, over time, citizens in both advanced and emerging market economies begin favoring stablecoins over existing fiat currencies,” according to the article.

Read the full article from CryptoBriefing.

Last modified on Thursday, 16 April 2020
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