{"id":50822,"date":"2021-10-07T12:34:27","date_gmt":"2021-10-07T09:34:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50822"},"modified":"2025-09-02T20:24:17","modified_gmt":"2025-09-02T17:24:17","slug":"fsb-flags-gaps-in-stablecoin-regulation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fsb-flags-gaps-in-stablecoin-regulation\/","title":{"rendered":"FSB flags gaps in stablecoin regulation"},"content":{"rendered":"<p>Implementation of the recommendations for global stablecoin regulation remains at an early stage, with gaps and fragmentation persisting. These conclusions are contained in the new <a href=\"https:\/\/www.fsb.org\/2021\/10\/regulation-supervision-and-oversight-of-global-stablecoin-arrangements-progress-report-on-the-implementation-of-the-fsb-high-level-recommendations\/\">report<\/a> of the G20 Financial Stability Board (FSB).<\/p>\n<p>In October 2020, the advisory body responsible for financial regulation formulated ten recommendations for a common international approach to the regulation of stablecoins. A year later, the FSB noted slow progress in implementing them.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Effective international cooperation and coordination are crucial. Differences in regulatory classifications and approaches at the jurisdictional level can lead to risks of regulatory arbitrage and market fragmentation,&#8221;<\/em> the document says.<\/p>\n<\/blockquote>\n<p>The recommendations range from granting relevant authorities oversight functions over global stablecoins to an &#8220;all-encompassing governance framework,&#8221; since they are tied to fiat currencies.<\/p>\n<p><span data-descr=\"International Organization of Securities Commissions\" class=\"old_tooltip\">IOSCO<\/span> and the Basel Committee on Banking Supervision described the coverage as &#8220;incomplete&#8221; for several aspects by the various countries that have begun regulating stablecoins, according to FSB analysts.<\/p>\n<p>The report calls for further consideration of issues such as the criteria for global stablecoin status, investor protection, and requirements for issuers, custodians and wallet providers.\u00a0<\/p>\n<p>Analysts proposed adding buyback rights, cross-border cooperation and coordination between jurisdictions, as well as mutual recognition, to the scope of the recommendations.<\/p>\n<p>The FSB plans to complete standards development by July 2023.<\/p>\n<p>In October, the Bank for International Settlements <a href=\"https:\/\/u1f987.com\/en\/news\/bis-issues-recommendations-on-regulating-stablecoins\">published<\/a> a report with guidance on the alignment of stablecoin mechanisms with international standards for payment, clearing and settlement systems.<\/p>\n<p>Earlier, the organization noted that many central banks study digital assets from a regulatory perspective, but their greatest interest <a href=\"https:\/\/u1f987.com\/en\/news\/bis-two-thirds-of-surveyed-central-banks-study-stablecoins\">lies in stablecoins<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Implementation of the recommendations for global stablecoin regulation remains at an early stage, with gaps and fragmentation persisting. These findings are contained in the G20 Financial Stability Board (FSB) report.<\/p>\n","protected":false},"author":1,"featured_media":50823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,807],"class_list":["post-50822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50822"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50822\/revisions"}],"predecessor-version":[{"id":50824,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50822\/revisions\/50824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50823"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}