The Financial Stability Board (FSB) said it would further study the challenges stablecoins pose to emerging and developing economies. According to a statement on Friday, the decision was made at a plenary meeting of the FSB in Toronto, the sole decision-making body of the standard-setting and advisory body.
The FSB said that in emerging markets and developing economies (EMDEs), crypto assets pose particular challenges for monetary policy and capital flow management, and members discussed the challenges posed by the relatively high adoption and risks of global stablecoin arrangements in EMDEs. The FSB will further work to consider how to address these challenges.
At its meeting last week, members of the FSB, which has been one of the main makers of global crypto policy, discussed areas of the industry that "deserve further attention".
FSB: Further research will be conducted on the challenges posed by stablecoins to emerging and developing economies
2024-06-17 09:11:08
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