• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

BIS committee and IOSCO issue guidance for regulation of stablecoin arrangements

Jon Hartney by Jon Hartney
July 13, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The international organizations affirm the “same risk, same regulation” principle by extending decade-old rules to the rapidly expanding new financial technology.

The principle of “same risk, same regulation” for crypto received further confirmation with the release Wednesday of new guidance on stablecoin arrangements (SAs). The guidance, issued by the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO), applies the Principles for Financial Market Infrastructures (PFMI) for payment, clearing and settlement systems to systemically important SAs that transfer stablecoins. 

The document is intended for use by SA designers and operators and extends the PFMI standards to SAs without establishing new standards. It notes:

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

“An SA may need to make changes to its rules, procedures, governance arrangements and risk management framework taking the guidance into consideration in order for its practices to be consistent with the PFMI.”

It defines a stablecoin arrangement as “an arrangement that combines a range of functions to provide an instrument that purports to be used as a means of payment and/or store of value.” The guidance suggests considerations for determining which SAs it applies to, since only to SAs that are “systemically important” are covered by it.

Related: IOSCO says DeFi is quickly evolving and ‘cloning financial markets’

The PFMI were created in response to the 2008 financial crisis and published in 2012. All the standards apply to SAs under the new guidance, although the authors chose to elaborate on the application of only four out of the 24 principles and key considerations: governance, risk management, settlement finality and money settlements. They noted that a separate work will be issued to cover multicurrency SAs.

United States commodity Futures Trading Commission commissioner Caroline D. Pham, co-chair of the CPMI-lOSCO Policy Standing Group, said in a statement Wednesday, “This report is a significant step to establish international standards for stablecoin arrangements and a cohesive regulatory framework that safeguards the global financial system.”

Other institutions are working on stablecoin regulation as well. The Financial Stability Board is expected to propose international regulations for stablecoins in October. In the U.S., the Stablecoin TRUST Act has been introduced to regulate stablecoin and integrate them into the financial system.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,155.000.21%
  • ethereumEthereum(ETH)$1,592.11-0.33%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.08%
  • usd-coinUSD Coin(USDC)$1.000.03%
  • binancecoinBNB(BNB)$307.500.09%
  • rippleXRP(XRP)$0.4122970.18%
  • Binance USDBinance USD(BUSD)$1.00-0.01%
  • cardanoCardano(ADA)$0.386827-0.52%
  • dogecoinDogecoin(DOGE)$0.0887661.28%
  • matic-networkPolygon(MATIC)$1.13-0.94%
  • OKBOKB(OKB)$39.820.73%
  • SolanaSolana(SOL)$24.00-1.81%
  • Lido Staked EtherLido Staked Ether(STETH)$1,590.39-0.21%
  • polkadotPolkadot(DOT)$6.47-1.61%
  • Shiba InuShiba Inu(SHIB)$0.0000121.01%
  • litecoinLitecoin(LTC)$94.616.75%
  • AvalancheAvalanche(AVAX)$20.36-2.99%
  • tronTRON(TRX)$0.063187-0.02%
  • daiDai(DAI)$1.00-0.15%
  • UniswapUniswap(UNI)$6.76-0.79%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,128.000.16%
  • cosmosCosmos Hub(ATOM)$13.22-3.50%
  • ToncoinToncoin(TON)$2.50-1.74%
  • leo-tokenLEO Token(LEO)$3.94-1.07%
  • chainlinkChainlink(LINK)$7.29-1.39%
  • moneroMonero(XMR)$183.502.03%
  • ethereum-classicEthereum Classic(ETC)$22.221.14%
  • AptosAptos(APT)$18.251.57%
  • bitcoin-cashBitcoin Cash(BCH)$135.741.11%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.092717-0.73%
  • ApeCoinApeCoin(APE)$6.02-4.56%
  • QuantQuant(QNT)$150.04-1.09%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.49-3.80%
  • CronosCronos(CRO)$0.081159-0.84%
  • filecoinFilecoin(FIL)$5.34-1.67%
  • Lido DAOLido DAO(LDO)$2.28-4.51%
  • algorandAlgorand(ALGO)$0.256387-2.07%
  • vechainVeChain(VET)$0.024558-1.07%
  • Internet ComputerInternet Computer(ICP)$6.091.41%
  • HederaHedera(HBAR)$0.067392-2.33%
  • Axie InfinityAxie Infinity(AXS)$11.43-2.66%
  • decentralandDecentraland(MANA)$0.70-2.19%
  • AaveAave(AAVE)$85.02-2.23%
  • eosEOS(EOS)$1.10-0.35%
  • The SandboxThe Sandbox(SAND)$0.74-3.16%
  • FantomFantom(FTM)$0.452036-2.94%
  • FlowFlow(FLOW)$1.07-2.34%
  • MultiversXMultiversX(EGLD)$44.44-1.14%
  • theta-tokenTheta Network(THETA)$1.08-2.46%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.0001740.57%
  • tezosTezos(XTZ)$1.11-2.92%
  • FraxFrax(FRAX)$1.00-0.12%
  • true-usdTrueUSD(TUSD)$1.000.23%
  • paxos-standardPax Dollar(USDP)$1.00-0.28%
  • bitcoin-cash-svBitcoin SV(BSV)$43.80-0.63%
  • huobi-tokenHuobi(HT)$5.150.85%
  • The GraphThe Graph(GRT)$0.094073-1.94%
  • Frax ShareFrax Share(FXS)$10.96-2.31%
  • kucoin-sharesKuCoin(KCS)$8.163.17%
  • Curve DAOCurve DAO(CRV)$1.08-3.65%
  • havvenSynthetix Network(SNX)$2.45-1.78%
  • Rocket PoolRocket Pool(RPL)$38.87-1.17%
  • ChilizChiliz(CHZ)$0.138134-0.66%
  • eCasheCash(XEC)$0.000038-3.77%
  • USDDUSDD(USDD)$0.990.10%
  • Trust WalletTrust Wallet(TWT)$1.72-1.17%
  • BitTorrentBitTorrent(BTT)$0.000001-0.97%
  • PancakeSwapPancakeSwap(CAKE)$4.010.10%
  • KlaytnKlaytn(KLAY)$0.217982-0.77%
  • BitDAOBitDAO(BIT)$0.58-1.85%
  • iotaIOTA(MIOTA)$0.237084-2.54%
  • dashDash(DASH)$56.079.01%
  • GateGate(GT)$4.221.09%
  • zcashZcash(ZEC)$46.530.33%
  • makerMaker(MKR)$657.71-3.67%
  • cUSDCcUSDC(CUSDC)$0.022720-0.02%
  • neoNEO(NEO)$8.340.15%
  • gemini-dollarGemini Dollar(GUSD)$1.000.11%
  • OKCOKC(OKT)$32.010.99%
  • THORChainTHORChain(RUNE)$1.84-2.18%
  • cDAIcDAI(CDAI)$0.022129-0.07%
  • BTSE TokenBTSE Token(BTSE)$3.36-2.12%
  • Tokenize XchangeTokenize Xchange(TKX)$6.671.24%
  • Mina ProtocolMina Protocol(MINA)$0.65-3.14%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • RadixRadix(XRD)$0.05181613.77%
  • ImmutableXImmutableX(IMX)$0.66-3.74%
  • PAX GoldPAX Gold(PAXG)$1,921.66-0.18%
  • ArweaveArweave(AR)$10.20-2.10%
  • OsmosisOsmosis(OSMO)$0.97-2.78%
  • nexoNEXO(NEXO)$0.84-0.59%
  • zilliqaZilliqa(ZIL)$0.029406-2.96%
  • GMXGMX(GMX)$55.921.58%
  • OptimismOptimism(OP)$2.19-4.90%
  • FlareFlare(FLR)$0.0424968.15%
  • Tether GoldTether Gold(XAUT)$1,889.41-0.13%
  • cETHcETH(CETH)$31.95-0.38%
  • enjincoinEnjin Coin(ENJ)$0.455832-3.10%