WASHINGTON—The Financial Stability Board (FSB) has released new guidelines for global regulators, including a demand for stablecoin issuers to obtain local licenses before operating in specific jurisdictions.
The FSB is also recommending the implementation of a governance framework, compliance with anti-money laundering regulations, and adherence to the Financial Action Task Force's Travel Rule.
In addition, the FSB said stablecoins should not rely on “arbitrage activities” or algorithms to maintain stability and that reserve assets should meet or exceed the amount of stablecoins in circulation, CoinTelegraph reported.
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