CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
Systemically important stablecoins should meet the same principles as other major providers of financial market infrastructure, a new report concludes.
Stablecoins’ “transfer function” is comparable to other types of FMI, say the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions. Major stablecoins should therefore be expected to comply with the Principles for financial market infrastructures, the bodies say in the document.
The PFMIs
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