07.22.2020

WFE Calls For Stablecoin Taxonomy

07.22.2020
WFE Calls For Stablecoin Taxonomy

The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, has responded to the Financial Stability Board’s consultation document on ‘Addressing the regulatory, supervisory and oversight challenges raised by “global stablecoin” arrangements’.

The WFE generally welcomed the approach and recommendations made by the Financial Stability Board but advocated an expanded application of the proposals in three areas:

  • Creating classifications via a taxonomy for all GSC and crypto-assets
  • Application of the recommendations to all crypto-assets
  • Applying the cross-border co-operation recommendations and information-sharing requirements to the supervision of all those trading GSC/crypto-assets

To read the full response, please click here 

Source: WFE

Related articles

  1. Money Market Reform Switches to Europe

    MEMX reviewed recent S&P 500 stock splits to see the impact of changing round lots in high-priced stocks.

  2. The new benchmarks, with Uniswap launched this year, capture 40% of value in DeFi protocols on Ethereum.

  3. Luxembourg Green Exchange launched a specific gender-focused bond flag this year.

  4. Fusion Digital Assets addresses the need for credible infrastructure and assurance.

  5. Cboe has completed the syndication of minority equity interests with a group of thirteen firms.