Many stable coins may not meet the standards of the crypto asset regulations: FBS

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Das Financial Stability Board (FSB) hat bekannt gegeben, dass viele Stablecoins die Standards nicht erfüllen werden, die in seinen Empfehlungen für Krypto-Asset-Vorschriften festgelegt sind, die später in diesem Jahr veröffentlicht werden. Die Regulierungsbehörde stellte fest, dass die Empfehlungen darauf abzielen würden, wirksame „Stabilisierungs“-Mechanismen aufrechtzuerhalten und die Rücknahmerechte zu stärken. Der FSB ist eine globale Organisation, die die Stabilität und Widerstandsfähigkeit des internationalen Finanzsystems überwacht und Leitlinien dafür bereitstellt. Der Watchdog wurde 2009 nach der Finanzkrise 2008 von den G20-Staaten als Ersatz für das Financial Stability Forum ins Leben gerufen. FSB veröffentlicht Stablecoin-Empfehlungen Laut einer offizielles Dokument Der am Montag veröffentlichte …
The Financial Stability Board (FSB) has announced that many stable coins will not meet the standards that are determined in its recommendations for crypto-asset regulations that will be published later this year. The regulatory authority found that the recommendations would aim to maintain effective "stabilization" mechanisms and to strengthen the right of return. The FSB is a global organization that monitors the stability and resilience of the international financial system and provides guidelines for it. The Watchdog was launched in 2009 after the 2008 financial crisis in 2008 as a replacement for the Financial Stability Forum. FSB publishes StableCoin recommendations according to an official document published on Monday ... (Symbolbild/KNAT)

The Financial Stability Board (FSB) has announced that many stable coins will not meet the standards that are defined in its recommendations for crypto-asset regulations that will be published later this year. The regulatory authority found that the recommendations would aim to maintain effective "stabilization" mechanisms and to strengthen the right of return.

The FSB is a global organization that monitors the stability and resilience of the international financial system and provides guidelines for this. The Watchdog was launched in 2009 after the 2008 financial crisis in 2008 as a replacement for the Financial Stability Forum.

FSB published StableCoin recommendations

according to a Official document The FSB published on Monday is of the opinion that stricter regulations are of crucial importance in view of the number of top -class scandals that shaked the industry last year.

"The events of the past year, such as the collapse of FTX, have made the intrinsic volatility and the structural weaknesses of crypto-assets clear. We have now seen first-hand that the failure of an important mediator in the crypto-asset ecosystem can quickly transfer risks to other parts of this ecosystem," said the financial monitor.

The regulatory effort is based on a Announcement Last year about the intentions of the FSB last year to determine a schedule for Global crypto supervisory authorities in 2023. To contain the financial system.

A core aspect of the regulatory framework focuses on stable coins. And the collapse of the Terra Luna ecosystem worth $ 40 billion in May has already damaged the call of such assets.

The FSB is now trying to strengthen the global stable coin government frames, since such assets have properties that could make the threat to financial stability.

Many stable coins may not meet the standards of the FSB

Although the recommendations still have to be published, the FSB has already come to the conclusion that many existing stable coins would not meet the defined "high -ranking" standards, let alone detailed rules that have to be set by sectoral bodies.

"It is important that the work of the FSB comes to the conclusion that many existing stable coins are currently neither these high-ranking recommendations nor the international standards and the more detailed, more detailed guidelines of the BIZ committee for payments and market infrastructures of the international organization of the securities commission", which FSB added.

In addition, the FSB intends to publish a joint paper with the International Monetary Fund (IMF) in order to summarize the results of the political findings into crypto-assets.

After completing the work, the FSB will coordinate the regulation of cryptocurrencies according to the principle "same activity, the same risk, same regulation".

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