G-20 Calls For 'Proportionate' Regulation Of Stablecoins
Law360, London (April 14, 2020, 1:53 PM BST) -- Central bankers for some of the world’s leading economies told regulators on Tuesday to close gaps in legislation to prevent digital currencies from posing a systemic threat to the integrity of financial markets.
The Financial Stability Board, the G-20 supervisory body, has made 10 recommendations for a common, international approach to regulating so-called stablecoins, like the venture planned by Facebook.
Stablecoins are cryptocurrencies that seek to limit price volatility by being backed by specific assets, such as fiat currencies or metals. Because they are not backed by sovereign governments, such currency could theoretically be used or transferred across national boundaries.
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!