Argentina: Adopted Guidance on the Application of the Principles for Financial Market Infrastructures to stablecoin arrangements

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Description

Adopted Guidance on the Application of the Principles for Financial Market Infrastructures to stablecoin arrangements

On 13 July 2022, the Bank for International Settlements' Committee on Payments and Market Infrastructures and the International Organisation of Securities Commissions published the Guidance on the Application of the Principles for Financial Market Infrastructures to stablecoin arrangements. The document aims to provide clarity regarding the application of the Principles for Financial Market Infrastructure (PFMI) to stablecoin arrangements that are considered systemically important financial market infrastructures. In particular, the document focuses on 4 areas: Governance, Comprehensive risk management, Settlement finality and Money settlements The Guidance confirms that stablecoin arrangements should comply with international standards for payment, clearing and settlement systems.

Original source

Scope

Policy Area
Other operating conditions
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
bi- or plurilateral agreement
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2021-10-06
in consultation

The Report on the Application of the Principles for Financial Market Infrastructures to stablecoin …

2021-12-01
in consultation

The consultation on the report on the Application of the Principles for Financial Market Infrastruc…

2022-07-13
adopted

On 13 July 2022, the Bank for International Settlements' Committee on Payments and Market Infrastru…