BIS Outlines How Stablecoins Could Comply With International Money Standards

Posted on by American Coins & Gold

BIS Outlines How Stablecoins Could Comply With International Money Standards
The Bank for International Settlements’ (BIS) says stablecoin payment systems should comply with international standards for payment, clearing and settlement.A new report published Wednesday by the BIS Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) includes preliminary guidance on how to apply the Principles for Financial Market Infrastructures (PFMI) to stablecoin arrangements.The CPMI and IOSCO have invited the public to make general comments and answer a set of questions laid out in the document on the clarity of the report. Responses can be emailed to the CPMI (cpmi@bis.org) and IOSCO (consultation-03-2021@iosco.org) Secretariats by…