Financial Stability Board: Global stablecoins have yet to be tested under severe stress, calls for strengthened cross-border monitoring.

PANews October 13 news, according to CoinDesk, the Financial Stability Board (FSB), the financial regulatory body of the Group of Twenty (G20), released a report titled "Global Stablecoin Arrangements: Cross-Border Vulnerabilities and Financial Stability Monitoring," stating that global stablecoins have not yet been tested under severe market stress or insolvency scenarios, and that the pace of progress on regulatory frameworks varies across countries. The report points out that under a multi-issuer structure, redemption demands may concentrate on one entity while reserve assets are located in other jurisdictions; when an issuer fails, it may be unclear which country's insolvency rules apply; stablecoins trade 24 hours a day while reserve assets do not trade around the clock, so they may depeg during a run, and shocks may also transmit to traditional markets through forced sales of reserve assets and outflows from bank deposits. The FSB recommends strengthening cross-border information sharing and monitoring, planning in advance for resolution arrangements in stablecoin distress or failure scenarios, and improving monitoring data. The report was published ahead of the October 15 meeting of G20 finance ministers and central bank governors, and the related recommendations are not legally binding.