Statement.pdf

PWG-Stablecoin-Statement-12-23-2020-CLEAN.pdf
Preview of statement
🔗 Source: home.treasury.gov
📊 Size: 239 KB
📄 Pages: 4 pages
⬇️ Downloads: 83

Summary

The President's Working Group on Financial Markets issued a statement on key regulatory and supervisory issues relevant to stablecoins, emphasizing the need for responsible payments innovation and compliance with US laws and regulations. Stablecoin arrangements must manage risks, maintain financial stability, and protect end-users, while also complying with anti-money laundering and countering the financing of terrorism obligations. Depending on their design, stablecoins may be considered securities, commodities, or derivatives, subject to relevant US laws. The statement encourages stablecoin arrangements to align with key principles, including strong reserve management practices, enforceable direct claims by holders, and clear disclosure of rights.

Description

The President's Working Group on Financial Markets issued a statement on key regulatory and supervisory issues relevant to stablecoins, emphasizing the need...

Technical Information

  • File Format: PDF
  • File Size: 239 KB
  • Pages: 4
  • Language: EN
  • Total Downloads: 83
  • Last Updated: 1 week ago

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