G20 Central Bankers: Stablecoins Are Not “Stable,” Suggests Action Against Crypto

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Written by: Qadir AK

Written by Daily News | Online News right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Oct 11, 2022

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The Financial Stability Board, a group of G20 central bankers and financial regulators, has emphasized that stablecoins are not stable.

No stablecoin currently satisfies the parameters set for the digital asset category by the world’s major central bankers, and many stablecoins “do not have credible systems to guarantee their claim of price stability,” according to a report released today by the Financial Stability Board.

The board also questioned how “stable” stablecoins really are.

The board also issued high-level recommendations for governing digital currencies, with a more thorough report due by the middle of next year.

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