Status: Draft -- Not PublishedWill be live at 07/15/2020 15:25
Comment Letter: FSB Global Stablecoins Consultative Document
The IIF has provided comment on the FSB consultative document Addressing the regulatory, supervisory and oversight challenges raised by “global stablecoin” arrangements, published on April 14, 2020.
The FSB’s document provides a thoughtful overview of how to identify and address potential risks and issues, and we commend and support the consultative document’s coverage of the key high-level regulatory principles. The IIF’s letter adds some complementary recommendations, including where we see further opportunity for the FSB to lead the broader G20 conversation, particularly on topics such as the potential impacts for competition and consumer protection. Our comments also focus on the important issues of terminology, regulatory perimeter and oversight.