The 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.
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FSB Takes Hard Stance On 'Stablecoins'
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.
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