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WFE calls for taxonomy of global stablecoins and cryptoassets

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Published on: 22 July 2020

Published by LNB News

LNB News 22/07/2020

Document Information

Issue Date: 22 July 2020

Published Date: 22 July 2020

Jurisdiction(s): United Kingdom

Article summary

The World Federation of Exchanges (WFE) has responded to the Financial Stability Board (FSB) consultation addressing the regulatory, supervisory and oversight challenges raised by global stablecoin (GSC) arrangements. WFE generally welcomed the FSB’s approach and recommendations, but called for an expanded application of the proposals by creating a taxonomy for all GSC and cryptoassets, applying the recommendations to all cryptoassets, and applying the cross-border cooperation recommendations and information-sharing requirements to the supervision of all those trading GSC/crypto-assets.

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