Transcription of Report on Stablecoins
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Report on Stablecoins
CONTENTSE xecutive Summary ..1I. Background ..4 Creation and Redemption of the Stablecoin ..4 Transfer and Storage of the Stablecoin ..5 Activities and Participants in Stablecoin Arrangements ..6 Use of Stablecoins ..7 Digital Asset Trading Platforms and DeFi ..8II. Risks and Regulatory Gaps ..12 Loss of Value: Risks to Stablecoin Users and Stablecoin Runs ..12 Payment System Risks ..12 Risks of Scale: Systemic Risk and Concentration of Economic Power ..14 Regulatory Gaps ..14 III. Recommendations ..15 Legislation ..16 Interim Measures ..18 Illicit Finance Risk ..19 International Standards ..22 Annex: List of Outreach Participants ..231 INTERAGENCY Report ON STABLECOINSE xecutive Summary Stablecoins are digital assets that are designed to maintain a stable value relative to a national currency or other reference assets.
beneficial payments options. The recommendations in this report build on the work of international forums, including the Financial Stability Board, on stablecoin arrangements. See International Standards for more detail. While the scope of this report is limited to stablecoins, work on digital assets and other innovations
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