The FSB warns global stablecoins cross borders and sectors, so no single country can manage their risks alone. Its new note maps how risks spread and what data regulators need to monitor them.

The Financial Stability Board note describes ongoing monitoring work on global stablecoin arrangements, examining their structure and how vulnerabilities could propagate across borders and sectors. It sets out metrics that could support financial stability monitoring, noting that a single jurisdiction may be unable to fully assess or address cross-border vulnerabilities, and that operations may span multiple entity types and national authorities. It also reviews currently available data for monitoring stablecoin activities, assessing the sources and their benefits and limitations.

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• Risks
• Regulation
• Stablecoins