FSB Resolution Chair Urges Cross-Border Planning for Stablecoin Crises

Financial Stability Board Resolution Steering Group Chair Dominique Laboureix urged authorities to include stablecoins and other deposit-like arrangements in cross-border crisis planning as digital finance creates new operational risks. Speaking in Berlin on Thursday, Oct. 29, Laboureix grouped stablecoins with tokenized deposits, deposit-placement platforms and sweep arrangements. He said these arrangements challenge established expectations around deposit insurance and called on authorities to examine the financial claims they create, who stands behind them and what protections apply if something goes wrong. “Stablecoins, for instance, challenge established assumptions about how money is held and transferred, and about where financial intermediation takes place,” Laboureix said. He said his remarks reflected his views as steering group chair and did not necessarily represent the FSB or its members. The crisis-planning concerns also include operational disruptions.

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