Saw this on the news earlier today, curious to hear what you guys think!

"Central banks push for heavy-duty regulation of centralized, privately-issued global stablecoins and consider prohibiting decentralized ones. Fiat-pegged cryptocurrencies are coming under scrutiny, based on recommendations from the Financial Stability Board."

Key Takeaways

  • The Financial Stability Board (FSB) outlined ten recommendations to central banks for regulating stablecoins, including outright prohibition.

  • The FSB is an international entity that provides suggestions on the global financial system. It comprises central banks and finance ministries from major G20 economies.

  • The recommendations are to be presented before an audience of G20 countries, and reference major stablecoins, including USDT, USDC, TUSD, PAX, and DAI.