MANAMA: Saudi Arabian Monetary Authority Governor Dr Ahmed Alkholifey told a conference in Bahrain yesterday that the G-20 group of nations, currently chaired by Saudi Arabia, are not in favour of launching crypto-assets like “stable-coins” without regulatory oversight and an international framework.
Speaking during a panel discussion on the opening day of the MEA Fintech Forum 2020, he said the so-called ‘stable-coins’, like other crypto-assets, have the potential to enhance the efficiency of the provision of financial services, but may also generate risks to financial stability .
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