The Chair of the Financial Stability Board has listed stablecoins as a key topic ahead of the G20 summit

ChainCatcher news, according to CoinDesk, Andrew Bailey, the new chair of the Financial Stability Board (FSB) and Governor of the Bank of England, stated in an open letter to the G20 that assessing the role of stablecoins in payment settlements will become a priority for the FSB. After taking office in July, Bailey emphasized that the FSB needs to continue advancing the implementation of stablecoin regulatory recommendations and strengthen cross-border regulatory cooperation before the G20 summit.

The FSB proposed rules for regulating stablecoins in 2021 to prevent them from disrupting the global economy. The agency stated last year that it would further study the challenges posed by stablecoins to emerging and developing economies with high adoption rates.