Briefing

    Global financial watchdogs issue warnings about stablecoins

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    The Basel, Switzerland-based Financial Stability Board, which includes all the G20 economies, and the Paris-based Financial Action Task Force, a G7 initiative, both called for detailed overview and strong regulation of proposed digital coins like Facebook’s Libra. The coins could present broad systemic risks to global financial stability, they said, and catalyze illicit financial activity like money laundering. (Reuters)

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