1  Committee on the Global Financial System (2007), Financial Stability and Local Currency Bond Markets, CGFS Publications No. 28 (Basel, Bank for International Settlements, June). 2  International Monetary Fund (2007), World Economic Outlook: Globalization and Inequality, World Economic and Financial Surveys (Washington: International Monetary Fund, October), p. 239.
This is just the start of what looks like a long process of tackling the challenges of stablecoins. What would be the next immediate steps? The plan is to pass the baton to the Financial Stability Board (FSB).