Quarles: stablecoins, market fragmentation threaten stability

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Randal Quarles, the head of global regulator the Financial Stability Board, warned on Thursday that cryptocurrencies and increasing fragmentation of financial markets carried the greatest threats to market stability.
He said that the introductions of stablecoins — cryptocurrencies that are tied to conventional assets to reduce concerns over volatility — has raised concerns at the FSB over potential gaps in regulations.

Earlier this year, Facebook triggered a major debate among regulators about concerns including impacts on …

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