07.22.2020

WFE Calls For Stablecoin Taxonomy

07.22.2020
Shanny Basar
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

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