December 4, 2019 / 7:39 AM / 11 days ago

BOJ's Kuroda: No global stablecoins project should begin operation until risks are addressed

TOKYO, Dec 4 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday that no global stablecoins (GSCs) project should start operation until “legal, regulatory, oversight challenges and associated risks are adequately addressed”, as pointed out in G7 report.

He also said that spread of global stablecoins could have significant implications on the financial system and the transmission of monetary policy, according to a text of his speech posted on the BOJ’s website. (Reporting by Kaori Kaneko, Tetsushi Kajimoto and Daniel Leussink; Editing by Kim Coghill)

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