The FSB Is Preparing A Package Of Rules For Global Crypto Regulation

The Financial Stability Board (FSB) of the G20 group has begun work on a set of rules for regulating the cryptocurrency industry, common to all G20 member countries, which will be presented in October 2022.

The FSB noted that regulatory rules should be as effective as possible in order to reduce the negative impact of the cryptocurrency industry on traditional financial markets.

According to the organisation’s experts, it is possible to apply some of the general rules and regulations applicable to traditional markets for cryptocurrencies.

The organisation will present rules for the regulation and supervision of stablecoins and other crypto assets in October and will publish a report with recommendations to promote a coherent international approach to the supervision of crypto-asset markets and strengthen cooperation and coordination.

FSB experts believe that these rules and regulations will help minimize the risk of fragmentation and regulatory arbitrage.

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