![]() ![]() Where international sectoral standards apply to a GSC for a particular economic function, those standards will address risks specific to the economic function and, as such, authorities should implement those international standards. The recommendations take a broad approach to GSCs and are intended to be flexible so that they can be incorporated into the wide variety of regulatory frameworks potentially applicable to GSCs around the world. They should be applied by individual authorities to the extent they fall within the authorities’ remits. The recommendations are addressed to financial regulatory, supervisory and oversight authorities at a jurisdictional level. The High-level Recommendations seek to promote consistent and effective regulation, supervision and oversight of global stablecoin arrangements (GSCs) across jurisdictions to address the potential financial stability risks they pose, both at the domestic and international level, while supporting responsible innovation and providing sufficient flexibility for jurisdictions to implement domestic approaches. These final revised recommendations take into account feedback from a public consultation and stakeholder outreach. In October 2022, the FSB published a review of its High-level Recommendations, including how any gaps identified could be addressed by existing frameworks, considering recent market and policy developments. ![]()
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