The global standard-setters also cautioned that stablecoins adopted by multiple jurisdictions could potentially transmit volatility in a more abrupt manner than other cryptocurrencies.
The Financial Stability Board and the International Monetary Fund are preparing to release a document urging worldwide cooperation on cryptocurrency policies during the upcoming G20 summit scheduled for this weekend.
Recent failures of cryptocurrency issuers, exchanges, and hedge funds are important motivators for improved cryptocurrency regulation.
For the first time, the yuan has been included in Israel's central bank reserves, and its allotment for US dollars has been reduced.