As it is known, stablecoins are frequently heard on the agenda with Facebook’s Libra project. Although Libra gave up this special idea, world governments remain vigilant about such projects. In this context, FSB has published a comprehensive study with suggestions about stablecoins. The FSB report states that the current financial rules also apply to stablecoins in general. However, the board argues that regardless of the technology used, rules must be the same for all businesses that offer financial risk. In short, what sort of regulation is offered to other payment and financial companies, companies that produce stablecoin should be presented. A Flexible Framework Due to the nature of Stablecoins, some countries still have legal gaps in this regard. Some of the recommendations included in the report focus on creating a flexible cross-border framework, so stablecoins will not be able to find a gap over the differences between each jurisdiction. Beyond that, the FSB also issued joint recommendations such as Anti-Money Laundering and Counter-Terrorism Financing controls.
