‘Comprehensive’ International Crypto Rules Proposed by Influential Finance Watchdog

The FSB warns of extra risks when wallet providers offer services for stablecoins – cryptocurrencies which seek to maintain their value against conventional assets such as the U.S. dollar. Disruptions to a wallet service could allow for malicious transfers, potentially leading to a stampede from panicking customers, and there’s often no clarity on what happens if a provider goes bankrupt, the report said.