{"id":7097,"date":"2021-10-08T08:02:23","date_gmt":"2021-10-08T08:02:23","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=7097"},"modified":"2021-10-08T08:02:23","modified_gmt":"2021-10-08T08:02:23","slug":"cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/","title":{"rendered":"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements"},"content":{"rendered":"<ul>\n<li>CPMI and IOSCO call for comments on new consultation report confirming that the Principles for Financial Market Infrastructures (PFMI) apply to systemically important stablecoin arrangements (SAs).<\/li>\n<li>The report proposes additional guidance on how certain aspects of the PFMI apply to the novel features of SAs.<\/li>\n<li>CPMI and IOSCO may further examine regulatory, supervisory and oversight issues associated with SAs and coordinate with other standard-setting bodies.<\/li>\n<\/ul>\n<p>The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published for public consultation preliminary guidance that confirms and clarifies that stablecoin arrangements should observe international standards for payment, clearing and settlement systems.<\/p>\n<p>In 2019, the Group of Seven and the Financial Stability Board (FSB) conducted work on the impact of global stablecoin arrangements and made\u00a0recommendations\u00a0for their regulation, supervision and oversight.<\/p>\n<p>Preliminary analysis conducted by CPMI-IOSCO as part of an October 2020 FSB\u00a0<a class=\"external\" href=\"https:\/\/www.fsb.org\/2020\/10\/regulation-supervision-and-oversight-of-global-stablecoin-arrangements\/\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a>\u00a0found that &#8220;the PFMI apply to stablecoin arrangements that perform systemically important payment system functions or other financial market infrastructure (FMI) functions&#8221;.<\/p>\n<p>Today&#8217;s consultation paper \u2013\u00a0<em>Application of the Principles for Financial Market Infrastructures to stablecoin arrangements\u00a0\u2013\u00a0<\/em>upholds and confirms that determination. Given the novelty and complexity of stablecoin arrangements, it provides clarification and interpretation through the provision of guidance on applying existing standards to SAs, including to some of the novel features of SAs which distinguish them from other payment systems.<\/p>\n<p>Each jurisdiction retains the prerogative to determine within its own context whether to allow stablecoin activity. If it does so, and if an SA is systemic or is likely to become systemic, then the PFMI (supplemented by the report&#8217;s guidance) would also apply.<\/p>\n<p>The CPMI and IOSCO invite comments on this consultative document generally and the questions set out in the document specifically.<\/p>\n<p>Responses will be published on the websites of the CPMI and IOSCO unless respondents expressly request otherwise. Commercial or other sensitive information should not be included in your submission or may be provided with redactions by the sender for publication.<\/p>\n<p>The CPMI and IOSCO may further examine regulatory, supervisory and oversight issues associated with SAs and, as appropriate, coordinate with other standard-setting bodies to address outstanding gaps. This report is a key contribution to the G20 roadmap on cross-border payments and supports the FSB&#8217;s work in this area.<\/p>\n<p>Some issues identified in this report may require further clarification and follow-up work in 2022 and beyond as the features of certain projects and SA functions evolve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CPMI and IOSCO call for comments on new consultation report confirming that the Principles for Financial Market Infrastructures (PFMI) apply to systemically important stablecoin arrangements (SAs)<\/p>\n","protected":false},"author":2,"featured_media":7098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[812,14,1190],"tags":[1672,1671,1673,1247],"class_list":["post-7097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","category-financial-news","category-stablecoins","tag-cpmi","tag-iosco","tag-pfmi","tag-stablecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements<\/title>\n<meta name=\"description\" content=\"CPMI and IOSCO call for comments on new consultation report confirming the Principles for Financial Market Infrastructures (PFMI).. Stablecoin\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements\" \/>\n<meta property=\"og:description\" content=\"CPMI and IOSCO call for comments on new consultation report confirming the Principles for Financial Market Infrastructures (PFMI).. Stablecoin\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/\" \/>\n<meta property=\"og:site_name\" content=\"Futures and Options\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-08T08:02:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"880\" \/>\n\t<meta property=\"og:image:height\" content=\"220\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"pnik\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"pnik\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/\",\"name\":\"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements\",\"isPartOf\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg\",\"datePublished\":\"2021-10-08T08:02:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26\"},\"description\":\"CPMI and IOSCO call for comments on new consultation report confirming the Principles for Financial Market Infrastructures (PFMI).. Stablecoin\",\"breadcrumb\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#primaryimage\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg\",\"contentUrl\":\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg\",\"width\":880,\"height\":220,\"caption\":\"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.futuresandoptions.gr\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#website\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/\",\"name\":\"Futures and Options\",\"description\":\"Serving Intelligent Investors\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.futuresandoptions.gr\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26\",\"name\":\"pnik\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/author\/pnik\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements","description":"CPMI and IOSCO call for comments on new consultation report confirming the Principles for Financial Market Infrastructures (PFMI).. Stablecoin","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/","og_locale":"en_US","og_type":"article","og_title":"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements","og_description":"CPMI and IOSCO call for comments on new consultation report confirming the Principles for Financial Market Infrastructures (PFMI).. Stablecoin","og_url":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/","og_site_name":"Futures and Options","article_published_time":"2021-10-08T08:02:23+00:00","og_image":[{"width":880,"height":220,"url":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg","type":"image\/jpeg"}],"author":"pnik","twitter_card":"summary_large_image","twitter_misc":{"Written by":"pnik","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/","url":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/","name":"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements","isPartOf":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#primaryimage"},"image":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#primaryimage"},"thumbnailUrl":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg","datePublished":"2021-10-08T08:02:23+00:00","author":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26"},"description":"CPMI and IOSCO call for comments on new consultation report confirming the Principles for Financial Market Infrastructures (PFMI).. Stablecoin","breadcrumb":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#primaryimage","url":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg","contentUrl":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2021\/10\/CPMI-and-IOSCO-publish-guidance-call-for-comments-on-stablecoin-arrangements.jpg","width":880,"height":220,"caption":"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements"},{"@type":"BreadcrumbList","@id":"https:\/\/www.futuresandoptions.gr\/en\/cpmi-and-iosco-publish-guidance-call-for-comments-on-stablecoin-arrangements\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.futuresandoptions.gr\/en\/"},{"@type":"ListItem","position":2,"name":"CPMI and IOSCO publish guidance, call for comments on stablecoin arrangements"}]},{"@type":"WebSite","@id":"https:\/\/www.futuresandoptions.gr\/en\/#website","url":"https:\/\/www.futuresandoptions.gr\/en\/","name":"Futures and Options","description":"Serving Intelligent Investors","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.futuresandoptions.gr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26","name":"pnik","url":"https:\/\/www.futuresandoptions.gr\/en\/author\/pnik\/"}]}},"_links":{"self":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts\/7097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/comments?post=7097"}],"version-history":[{"count":1,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts\/7097\/revisions"}],"predecessor-version":[{"id":7099,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts\/7097\/revisions\/7099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/media\/7098"}],"wp:attachment":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/media?parent=7097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/categories?post=7097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/tags?post=7097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}