Report examines the use of global stablecoins in EMDEs and the unique cross-border financial stability risks they pose, and considers ways to address these risks.
Report presents the FSB’s assessment of current and emerging vulnerabilities in the global financial system and reflections from the March banking turmoil; outlines the FSB’s work to address these vulnerabilities; and reports on the implementation and effects of G20 financial reforms.
Paper describes how the policy and regulatory frameworks for crypto-assets developed by the IMF and the FSB (alongside standard-setting bodies) fit together and interact with each other.
Framework consists of two distinct recommendations for the regulation, supervision and oversight of crypto-asset markets and activities and “global stablecoin arrangements”.
Final recommendations seek to promote the comprehensiveness and greater international consistency of regulatory and supervisory approaches to crypto-asset activities and markets, including crypto-asset issuers and service providers.
High-level Recommendations seek to promote consistent and effective regulation, supervision and oversight of global stablecoins across jurisdictions to address the potential financial stability risks they pose.
Summary of responses to the October 2022 public consultation on the FSB’s proposed framework for the international regulation of crypto-asset activities.
