( April 14, 2020, 08:01 GMT | Official Statement) -- MLex Summary: Global stablecoins could generate threats to financial stability, consumer protection, data privacy and money laundering, the Financial Stability Board said today as it set out recommendations for regulatory, supervisory and oversight arrangements for the virtual assets. Regulation of the cryptocurrencies should align with the potential risks they pose, the FSB said, and called for regulators to have the powers for appropriate oversight. The consultation paper will be delivered to G-20 finance ministers and central bank governors, who are meeting remotely on Wednesday. The statement follows. The consultation is attached....
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