Stablecoins to Face Same Safeguards as Traditional Payments

Stablecoins to Face Same Safeguards as Traditional Payments
Ashley Ian Alder, chief executive officer of Securities and Futures Commission and chairman of the board of International Organization of Securities Commissions, attends the Asian Financial Forum in Hong Kong, China on Jan. 15, 2018. Bobby Yip/Reuters
Reuters
Updated:

LONDON—Stablecoins would have to comply with the same safeguards as their more traditional competitors in payments under proposals from regulators on Wednesday as authorities get to grips with a rapidly evolving sector.

Stablecoins are cryptocurrencies designed to have a stable value relative to traditional currencies, or to a commodity such as gold, to avoid the volatility that makes bitcoin and other digital tokens impractical for most commerce.