Published by
Reuters UK
Reuters UK
By Huw Jones LONDON (Reuters) – Major stablecoins must comply with the same safeguards as traditional forms of payments, global regulators said on Wednesday, tightening controls over a battered crypto sector. Stablecoins are cryptocurrencies designed to have a stable value relative to traditional currencies, or to a commodity, to avoid the volatility that makes bitcoin and other digital tokens impractical for most commerce. IOSCO, a global body for securities regulators, and a committee at the Bank for International Settlements (BIS), a forum for central banks, said on Wednesday they had forma…