Financial Stability Board Urges Consistency in Crypto Regulation

As of August, jurisdictions have made progress in regulating crypto-asset activities, have made less progress in regulating global stablecoin arrangements, and have left gaps and inconsistencies that “could pose risks to financial stability and to the development of a resilient digital asset ecosystem,” the FSB said in a press release outlining findings from its peer review of progress in implementing the 2023 global framework.

“FSB urges jurisdictions to prioritize full and consistent implementation, so as to minimize the risk of regulatory arbitrage and to improve the oversight of an inherently global crypto-asset market,” the release said.

The 2023 global framework includes recommendations on crypto-asset service providers…

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