By Najiyya Budaly (October 6, 2021, 12:44 PM BST) -- Global regulators proposed on Wednesday that stablecoins should be regulated under existing market rules governing other asset classes, as the authorities aim to bring digital tokens pegged to central bank cash under supervision.
The International Organization of Securities Commissions, an international body for financial regulators, and the Committee on Payments and Market Infrastructures, a standards setter, have proposed bringing stablecoins — which are tied to a fiat currency —under principles for financial market infrastructures.
The principles, penned in 2012 by the Bank for International Settlements, are standards designed to ensure that payment systems and central counterparties, which are considered to be...
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