FSB paper tackles stablecoin risks to emerging markets, developing economies

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The post FSB paper tackles stablecoin risks to emerging markets, developing economies appeared first on CoinGeek.

The FSB argued that EMDEs may be exposed to macro-financial risks arising from using foreign currency pegged stablecoins, which can increase financial stability risks by destabilizing financial flows and straining fiscal resources.

To account for the increased interest in stablecoins among EMDEs, the FSB recommended that “a targeted policy and regulatory response may be necessary to address the cross-border risks of foreign currency-pegged stablecoins in EMDEs.

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Article Details

Author / Journalist: James Field

Category: Crypto

Markets: CanadaIndia

Topics: USDC Emerging Market and Developing Economies LUNA Terra Stablecoins UST Financial Stability Board Circle Global Stablecoins Tether USDT Business Terraform Labs EMDEs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 11:00:29 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 1091 words

Reading Time: 7 minutes read

Sentences: 28 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 21772558

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