Bank for International Settlements proposes regulatory recommendations for global stablecoins

The Bank for International Settlements (BIS) has proposed global stablecoin regulation. In a summary of the proposal released on Thursday, the Bank for International Settlements described global stablecoins as stablecoins that are widely adopted and have potential impact and use in multiple jurisdictions. The Bank for International Settlements stated that "a global stablecoin may become systemically important within one or more jurisdictions and across multiple jurisdictions."