FSB warns of gaps in crypto and stablecoin regulation
Inconsistent global approach allows regulatory arbitrage and poses risks to financial stability
The Financial Stability Board (FSB) has warned a “fragmented” global regulatory approach to crypto and stablecoin regulation is contributing to vulnerabilities in the digital asset ecosystem.
The FSB published its recommendations for the regulation of crypto and stablecoins in 2023. In a report published today (October 16) the FSB highlighted “critical gaps” in regulators’ implementation, including “insufficient” capital requirements, risk management and business continuity plans, and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Crypto Assets
Confusion reigns over EU multi-issuance stablecoins regs
EBA seeking clarification from EC over assets’ legality after ECB’s and ESRB’s calls for ban
Brazil tightens crypto rules amid fears of capital outflow
Stablecoin transactions will be treated as FX operations under new central bank regulations
BoE proposes changes to systemic stablecoin regime
Breeden says aim is to ‘build trust’ as issuers no longer have to hold 100% of reserves at bank
BoK denies dollar stablecoins threaten monetary sovereignty
South Korean central bank remains cautious about won-backed instruments as legislation moves forward
Kyrgyzstan to pursue digital strategy with Zhao
Country’s president calls Binance founder “trusted adviser” following controversial pardon by Trump
Stablecoin rules should extend beyond issuers – FSI report
Some platforms offer yield-bearing products based on digital assets, latest brief points out
ESRB says central banks may be forced to intervene in stablecoin crises
New report lists concerns around regulatory arbitrage, de-pegging and monetary sovereignty
Trump’s ethics a ‘sticking point’ for stalled crypto law
Republican lawmaker says questions about president’s holdings stymied passage of Clarity Act