FATF will set up global network of virtual asset supervisors

Current standards are sufficient to govern stablecoin activity, report says, but risks may grow

crypto-coins

The Financial Action Task Force is developing a global network of supervisors to oversee activities concerning stablecoins and virtual assets, its latest report says.

The report to the G20, published on July 7, examines whether stablecoins require new levels of oversight. The FATF says it does not consider its standards need updating to cope with stablecoins, given their limited adoption to date, but it is concerned the adoption of stablecoins could outpace the uptake of its standards and leave

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