Transcription of Investigating the impact of global stablecoins
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Investigating the impact of global stablecoins
G7 Working Group on stablecoins Investigating the impact of global stablecoins October 2019 Investigating the impact of global stablecoins i Contents Executive summary .. ii 1 The stablecoin ecosystem .. 2 Improving payment systems and services .. 3 and risks for public policy, oversight and regulation .. 5 Legal, regulatory, oversight and public policy issues regardless of scale .. 5 Legal certainty .. 5 Sound governance .. 6 Financial integrity (AML/CFT) .. 7 Safety, efficiency and integrity of payment systems .. 7 Cyber and other operational risk considerations .. 8 Market integrity .. 9 Data protection .. 9 Consumer/investor protection .. 10 Tax compliance .. 11 Public policy challenges inherent in potential global stablecoins (GSCs) .. 11 Fair competition in financial markets .. 11 Financial stability implications .. 12 Monetary policy 15 , regulatory and oversight frameworks applicable to GSCs.
Payment services, in particular, have seen significant change in recent years through the introduction of new payment methods, platforms and interfaces. In fact, an increasing number of countries have payment systems that provide inexpensive and near instant domestic payments. However, challenges in current payment services remain.
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