Stablecoin at the end say J.Hosp
A few weeks ago we published a couple of posts and addressed the topic of Stablecoin regulation.
In particular, we have dwelt on the fact that stablecoins represent a potential risk to global financial stability for banks. To confirm the post, we referred to the document of the Financial Stability Board (FSB), which makes ten key recommendations to central banks and G20 authorities.
n this document, it has been suggested that a serious and concrete phase of regulation of centralised global stablecoins, issued privately and considered a possible ban for decentralised ones, should begin.
A few weeks later, the ECB document, drafted by Mitsutoshi Adachi, Matteo Cominetta, Christoph Kaufmann and Anton van der Kraaij, entitled “A regulatory and financial stability perspective on global stablecoins”, remarked on the FSB model and in particular highlighted the regulatory and financial aspects and implications of stablecoins.
Now Julian Hosp with a sibylline twitter states
Regulatory #FACT (I have it black and white in front of me!!!): Exchanges in Singapore (and with that in most FATF regulated countries) will soon have to either delist all fiat-backed stable coins (Tether, etc.) or upgrade to an e-money license. That will shake up the industry.
— Dr. Julian Hosp (@julianhosp) May 20, 2020
Pushed by followers Julian precise:
Singapore is just very early in implementing these rules – it will apply to all properly regulated countries: US, Europe, etc.
— Dr. Julian Hosp (@julianhosp) May 20, 2020
JULIAN HOSP
Austrian serial entrepreneur, not just any old character. Multifaceted, visionary, determined, passionate, he is considered one of the top ten influencers worldwide and author of many books that have become BestSellers.
After a brilliant career as a doctor, Julian has become an entrepreneur, bestselling author and speaker. In Singapore he co-founded TenX, a FinTech company that developed a technology that makes cryptocurrency spendable anytime, anywhere and raised $80 million in the first round of sales of his token in June 2017, the same year Influencive named Julian one of the best experts on Blockchain and Cryptocurrency.
He currently serves as CEO and co-founder of the Cake DeFi platform.
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Independent researcher and consultant, Tech Writer at Blockchain Technology. From Italy