The Financial Stability Board , a global financial regulator including all G20 countries, is preparing to propose international regulations for cryptocurrencies and stablecoins in October 2022.
The Financial Stability Board (FSB), looks more concerned with the recent turmoil in crypto-asset markets highlights their intrinsic volatility, structural vulnerabilities and the issue of their increasing interconnectedness with the traditional financial system.
The financial watchdog issued a statement on Monday on the international regulation and supervision of crypto asset activities. It is preparing to report to the G20 finance minister and central bank governors in October 2022 on regulatory and supervisory approaches to stablecoins and other crypto assets. In a mean time, the Financial Stability Board focusing on a public consultation report on the review of recommendations, including “how existing frameworks may be extended to close gaps and implement the high-level recommendations.”