# FX Committee Weighs Stablecoins and AI in 2027 Code Review

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/35718
Published: 2026-10-20T14:20:20.000Z
Updated: 2026-10-20T14:20:20.000Z
Section: Regulation

> The committee has not decided whether to revise the voluntary trading code. It plans to discuss survey findings in December and publish a summary in early 2027.

The Global Foreign Exchange Committee (GFXC) is examining stablecoins and artificial intelligence as it prepares to review the FX Global Code in 2027, potentially bringing emerging technology into voluntary standards for wholesale currency trading.

The committee’s technology group is assessing how growing automation could affect the market. Its work also covers central bank digital currencies and tokenized assets. The group will form a preliminary view on whether any of those developments call for changes to the code, which sets principles for market participants but carries no legal obligations.

At a June meeting, participants discussed firms’ responsibility for automated trade execution. A business remains responsible for how its trading systems are designed and monitored, even when those systems act automatically. The discussion did not produce a new rule or a decision to amend the code.

The review comes as financial authorities examine how AI systems behave in markets. Bank of England Deputy Governor Sarah Breeden said in June that trading firms mostly used autonomous AI for lower-risk work, including research. She warned that agents responding to similar triggers “could amplify volatility in stress.”

The Bank of England is working with the BIS Innovation Hub and Bundesbank on simulations of how AI agents might act together. The simulations examine how AI agents might act together under market stress.

The size of the currency market gives the review a broad reach. Over-the-counter FX turnover averaged $9.5 trillion a day in April 2025, up 27% from April 2022. Cryptocurrencies are excluded from that FX measure, even as the GFXC considers how digital assets might affect currency trading.

Other financial authorities have set out AI governance practices while the code review develops. The Financial Stability Board (FSB) issued 12 practices on Oct. 15 addressing firmwide governance, risks throughout an AI system’s life and human oversight. The practices are broader than FX trading.

The UK Financial Conduct Authority (FCA), the country’s financial regulator, published examples on Oct. 19 covering how firms monitor AI agents, escalate problems and assign responsibility for the systems they use. The FCA said its examples create no new requirements. Neither publication decides whether the FX Global Code will change.

The GFXC plans to discuss survey findings in December and publish a summary in early 2027. It has not yet decided whether the code needs revisions.