FSB issues statement on the international regulation and supervision of cryptoasset activities

Article summary

The Financial Stability Board (FSB) has issued a statement outlining the work the FSB and international standard-setting bodies are doing to address the potential financial stability risks posed by cryptoassets, including stablecoin. The FSB comments in the statement on the importance and evolution of the international regulation and supervision of cryptoasset activities. The statement follows on from the FSB’s February 2022 report on its assessment of risks to financial stability from cryptoassets. That report had warned that cryptoasset markets are fast evolving and that they could reach a point where they represent a threat to global financial stability due to their scale, structural vulnerabilities and increasing interconnectedness with the traditional financial system.