IOSCO Chair Says Stablecoins Have Certain Features Typical of Securities

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The International Organization of Securities Commissions (IOSCO), an international organization that counts agencies such as the ESMA (European Union), the SEC (United States) and the FSA (Japan), has issued a statement on stablecoins. IOSCO says that members of the organization discussed stablecoins, among other topics, at a meeting in Madrid on October 30. The organization focused on “global stablecoins”, which it describes as “stablecoin initiatives with a potential global reach”.

The IOSCO FinTech Network also produced an assessment on how the IOSCO Principles and Standards apply to stablecoins.

IOSCO board chair Ashley Alder said that some of the features exhibited by stablecoins are commonly associated with securities:

“Our analysis has shown that so-called ‘stablecoins’ can include features that are typical of regulated securities. This means IOSCO Principles and Standards may apply to stablecoins depending on how they are structured, including those related to disclosure, registration, reporting and liability for sponsors and distributors.”

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