RBA: stablecoins must wait until framework in place

Reserve Bank of Australia
Photo: Alex Towle

The Reserve Bank of Australia said it believes private stablecoins, including Facebook’s Libra, should be prohibited from launching until all regulatory requirements and risks have been addressed.

The RBA backed a statement by the Group of 7 major economies opposing the launch of any stablecoins until regulators are satisfied they can deal with the risks that cryptocurrencies pose.

In a report sent to lawmakers in Australia’s senate, the RBA also said it might work with one or more external

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