Facebook's Libra could come under some existing rules: watchdog

[November 04, 2019]  LONDON (Reuters) - Existing securities rules could apply to "stablecoin" initiatives like Facebook's Libra project, global securities watchdog IOSCO said on Monday as policymakers examine whether new regulation is needed.

Small toy figures are seen on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/File Photo/File Photo

The watchdog, made up of securities regulators from across the world, including the United States, Europe and Japan, said an assessment of stablecoins found they can potentially offer benefits as well as pose risks.

"Our analysis has shown that so-called ‘stablecoins’ can include features that are typical of regulated securities," IOSCO said in a statement.

(Reporting by Huw Jones; Editing by Jon Boyle)

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