Overview
In October 2019, the G7 Working Group on Stablecoins (the
"Working Group") released its report on the impact of global stablecoins (the
"Report"). The Report identifies the
benefits that blockchain based stablecoins, a type of cryptoasset,
could provide as a payment system and store of value. However, the
Report notes that there are many risks and challenges associated
with the implementation of stablecoins, especially when they are
global scale stablecoins ("GSCs"). The
Working Group concludes that, before a global stablecoin project
should begin, the operational, legal, regulatory, oversight, and
public policy risks associated with stablecoins must be addressed.
What Are Stablecoins?
