CoinVoice has recently learned that, according to CoinDesk, the new chairman of the Financial Stability Board (FSB) and Governor of the Bank of England, Andrew Bailey, stated in an open letter to the G20 that assessing the role of stablecoins in payment and settlement will be a priority for the FSB. After taking office in July, Bailey emphasized that before the G20 summit, the FSB needs to continue to promote the implementation of stablecoin regulatory recommendations and strengthen cross-border regulatory cooperation.

The FSB proposed rules for regulating stablecoins in 2021 to prevent them from disrupting the global economy. The agency stated last year that it would further study the challenges posed by stablecoins to emerging and developing economies with higher adoption rates. [Original link]