October 18, 2019 G7 and FATF publish reports on stablecoins’ likely risks.

The G7 group and Bank for International Settlements released a report arguing that stablecoins could “undermine competition in financial markets” on a global scale, while the FATF’s report claims stablecoins could pose money laundering and terrorism financing risks. G20 nations subsequently requested that the IMF examine stablecoins’ macroeconomic implications, particularly their impact on member nations’ monetary sovereignty.

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