FSB Says Adoption of Global Stablecoin Regulations Shows ‘Gaps’ and ‘Fragmentation’

Posted on by American Coins & Gold

FSB Says Adoption of Global Stablecoin Regulations Shows ‘Gaps’ and ‘Fragmentation’
The Financial Stability Board (FSB) published a report Thursday outlining progress made, or lack thereof, by 48 jurisdictions on the “Regulation, Supervision, and Oversight of ‘Global Stablecoin’ Arrangements” since it was first introduced by the global watchdog last year.The FSB, an international body charged by the G20 for monitoring and making recommendations regarding the stability of the global financial system, said the implementation of its 10 “recommendations” for regulating stablecoin data safeguards from October 2020 was still at an “early stage.”“Jurisdictions have taken, or are considering, different approaches towards implementing the recommendations,” the FSB said in a statement Thursday. “To…