Central Banks Recommended to Ban Stablecoins
April 15, 2020, 7:19 a.m.
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."
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.