Financial Stability Board sees stablecoins as regulatory challenge

The development of stablecoins can provoke serious regulatory problems, said Randall Quarles, chairman of the Financial Stability Board (SPS).

Speaking at @EBFeu # EBS2019 in Brussels FSB Chair Randal K. Quarles reviews the FSB's first 10 years & considers its future role in an evolving financial system https://t.co/kCqvM44KiG pic.twitter.com/UsUQwyDoY2

– The FSB (@FinStbBoard) October 3, 2019

“At the moment, the risks to financial stability are minimal, but it is clear that stablecoins and other cryptocurrency assets may pose regulatory challenges in the future,” he concluded.

The international organization is already exploring existing regulatory approaches to regulate the industry and is ready to recommend G20 measures to ensure stability.

Recall that the revision of the internal SPS standards due to cryptocurrencies Quarls announced in February.

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