Australian financial regulators are “working on options” for incorporating payment stablecoins into the regulatory framework for stored-value facilities. Such incorporation would be a part of broader reforms to the payments regulatory framework in the country. 

On Dec.8 the official site of the Reserve Bank of Australia published a report on stablecoins, assessing their recent developments, risks and regulatory prospects. Despite the high attention given to risks, in particular, the report is quite optimistic in acknowledging that “stablecoins have the potential to enhance the efficiency and functionality of a range of payment and other financial services.”

(By DAVID ATTLEE)