Global financial watchdog FSB proposes rules to regulate crypto in October
FSB will make recommendations concerning stablecoin and crypto regulations to the G-20
By Shashank Bhardwaj
Image: Shutterstock
The Financial Stability Board (FSB) is planning to present recommendations regarding crypto regulations to the G-20 in October. FSB is a Basel, Switzerland-based international authority that performs the task of monitoring financial systems and proposing rules for financial stability worldwide. It reports to 20 of the world’s largest economies.
The recommendations to be proposed in October will revolve around crypto and stablecoin regulations. The issued statement referred to the recent turmoil in the crypto market while highlighting the structural vulnerabilities inherent in the crypto market and the increasing correlation of the crypto market with the traditional financial market. "The FSB is working to ensure that crypto-assets are subject to robust regulation and supervision," the statement said.
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