Existing securities rules could apply to 'stablecoin' digital currency...
LONDON - Existing securities rules could apply to “stablecoin” digital currency initiatives such as Facebook’s Libra project to help realize its benefits, global securities watchdog IOSCO said on Monday as policymakers examine whether new regulation is needed.
A stablecoin is a digital currency tied to a “stable” asset or basket of assets that can range from real currencies to commodities. Libra would be pegged to bank deposits and government securities across several currencies such as the dollar and euro. The tone of IOSCO’s statement is more nuanced than some of the comments from policymakers in European countries like France and Germany, who want Libra blocked. Facebook Libra is due to launch in 2020.
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