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

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.

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.

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