The Financial Stability Institute (FSI) in a detailed report issued on April 9th, 2024, has emphasized the necessity of a coordinated regulatory approach to stablecoins across different jurisdictions. The report stresses the necessity of stable regulatory environments to control risks attributed to stablecoins and to maintain a stable financial system.
Across jurisdictions, emerging #Stablecoin regulations strive to achieve a set of common objectives such as ensuring market integrity, consumer protection and financial stability while enabling innovation in payment systems #FinancialStabilityInstitute https://t.co/yKnAsqMv6v pic.twitter.com/kQu0IJ7RbS
— Bank for International Settlements (@BIS_org) April 9, 2024
Varied Responses to Stablecoin Regulation
The FSI’s request for a unified regulatory method is due to the differing approaches adopted by countries in regulating stablecoins. Moreover, stablecoins have received varied levels of regulation across the globe. In 2023, the UK l
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