Global Systemic-Risk Standards for Stablecoin Arrangements

Responding to requests from the G7, G20, and FSB, this report addresses market-infrastructure considerations related to systemically-important stablecoins that do not involve multi-currency baskets (e.g., Facebook’s Diem).  The report builds on the FSB’s current principles and those on cross-border payments, but generally does not propose specific standards.  Instead, it lays out how current global principles in this area should guide both stablecoin developers and regulators.