G20: Announced FSB report on international regulation of cryptocurrencies and stablecoins

On 11 July 2022, the Financial Stability Board (FSB) published a statement on the international regulation of cryptocurrencies and stablecoins, announcing a report to be published in October 2022 on regulatory and supervisory approaches to stablecoins and other crypto assets for the G20 finance ministers and central banks. Furthermore, the FSB plans public consultations on "global stablecoin" regulation and recommendations to promote global consistency in the regulation of crypto-assets. The aim of the FSB is to minimise the risk of fragmentation and regulatory arbitrage through international regulations, while sustaining high regulatory and transparency standards for stablecoins to ensure value stability and to tackle the intertwining of cryptocurrencies with the traditional financial system.