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Recommendations for the regulation, supervision and oversight of global stablecoin arrangements
Stablecoins, like other cryptoassets, have the potential to enhance the efficiency of how financial services are provided, but they may also generate risks to financial stability. A widely adopted stablecoin with a potential reach and use across multiple jurisdictions, referred to as a “global stablecoin” (GSC), could become systemically important in and across one or many jurisdictions. The activities associated with GSC arrangements and the risks they may pose can span across regulatory regimes for banking, payments and securities/investment both within jurisdictions and across borders. While such financial ... (full story)