Global Watchdog Warns Of Stablecoin Risk, Sets Out Plans
Law360, London (October 13, 2020, 1:56 PM BST) -- A forum of central bankers warned on Tuesday of the risks posed by stablecoins as they said they have finalized recommendations for how new digital currencies should be regulated by national authorities.
Guidelines published by the Financial Stability Board focus on how regulators around the world should supervise so-called stablecoin, a type of digital currency pegged to traditional assets such as national currencies. Watchdogs have warned they could introduce excessive risk into the system if not kept in check.
Stablecoin could "generate risks to financial stability, particularly if they are adopted at a significant scale," the board warned.
The FSB said...
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