FSB seeks status report on crypto regulation.
In an effort to help regulators bring some oversight to the crypto sector, the Financial Stability Board (FSB) is setting out to review the implementation of its previously issued, high-level recommendations for the sector — and ultimately to provide advice to regulators on dealing with implementation issues.
In 2023, the global policy group issued its proposed regulatory framework for crypto, which defined the basic approach that policymakers have taken to the emerging sector, which is to apply similar standards that are well established in the traditional financial sector to the industry.
It also issued two sets of specific recommendations — one for overseeing the crypto sector, and one for global stablecoins — with a focus on guarding against financial stability risks.
Source: INVESTMENTEXECUTIVE
