Stablecoin including Facebook-initiated Libra could come under securities market regulation principles and standards. The conclusion of applying securities rule to stablecoin was decided in a meeting on 30th October in Madrid by the Board of the International Organization of Securities Commissions (IOSCO).
In a report published by G7 on stablecoin, the working group recognizes the challenges in cross-border payments which are slow, expensive and opaque. It finds crypto-assets such as Bitcoin, not a reliable alternative and attractive means of payment or store of value to replace the traditional payment system. The reasons...
In a draft report from G7 nations, the group says that the stablecoins must not go ahead until the company proves it is safe and secure. The warning applies to all stablecoin projects including Facebook’s Libra. Source: BBC news. The report from G7 adds that even if stablecoins backers satisfy...
