Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » G20 asked IMF to study risks associated with stablecoins

    G20 asked IMF to study risks associated with stablecoins

    0
    By BlockchainJournal on October 19, 2019 News
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The G20 said that stablecoins threaten the global monetary system and financial stability, and asked the IMF to assess the risks associated with them, reports Reuters .

    G20 countries will develop stablecoins based on recommendations from the Financial Stability Board (SPS) and the Anti-Money Laundering Development Group (FATF), which will provide relevant conclusions in 2020.

    “Until the risks associated with stablecoins are eliminated, they cannot be released ,” summed up the head of the Japanese central bank, Haruhiko Kuroda.

    Alastair Pike / AFP / Getty Images Photo

    He emphasized that emerging economies are already concerned about the potential of stablecoins with a huge user base, but not only they should be afraid.

    German Finance Minister Olaf Scholz at the G20 meeting reiterated that the launch of Libra from Facebook must be stopped. He is confident that issuing money is the prerogative of states, not private companies.

    The G20 recognized the strengths of the technology, but insisted that they were not going to ignore the threat of money laundering and the problems of protecting consumers.

    Representatives of the G20 did not discuss the creation of digital currencies of central banks, which China is currently actively preparing.

    Chinese digital currency – totalitarianism or a new monetary theory?

    Recall that G7 believes that bitcoin and other cryptocurrencies have not become a “reliable and attractive” means of payment and savings. The group recognized the benefits of stablecoins, but urged not to launch such projects until legal issues are resolved.

    The same position was expressed in the FATF, which previously published a guide for cryptocurrency service providers.

    A game of cat and mouse with regulators, or what the new FATF recommendations mean for the bitcoin industry

    Subscribe to BlockchainJournal news on Telegram: BlockchainJournal Feed – the entire news feed, BlockchainJournal – the most important news and polls.

    << aside id = "unisender_subscribe_form-10" class = "widget unisender_form">

    BlockchainJournal.news

    BlockchainJournal.news

    Bitcoin Facebook FATF Featured Finance G7 GAME Libra Telegram
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    BlockchainJournal

    Related Posts

    Hyperliquid’s USDH stablecoin call sparks fairness and governance debate

    September 5, 20253 Mins Read

    SharpLink to explore staking part of its $3.6 billion ETH treasury on Linea

    September 5, 20253 Mins Read

    Strategy Inc.’s path to the S&P 500 faces committee discretion, extreme volatility, and Bitcoin-dependent results

    September 5, 20253 Mins Read

    Coinbase accelerates toward a majority of AI-generated code amid a global trend

    September 5, 20253 Mins Read

    World Liberty Financial Blocks Justin Sun’s Wallet Amid WLFI Controversy

    September 5, 20253 Mins Read

    SEC bets on a pro-crypto agenda with a series of rulemakings on digital assets

    September 5, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.