The FSB, aka the Financial Stability Board, (not the Russian secret services) has issued a new report highlighting significant gaps in the international regulation of dollar stablecoins, but stopped short of recommending new restrictions on their cross-border circulation.
The FSB said stablecoins now represent a roughly $300 billion market, with 99% pegged to the US dollar. It warned that differences between national regulatory frameworks, particularly in the treatment of foreign-issued stablecoins, have created opportunities for regulatory arbitrage.
