Global financial watchdog FSB will propose crypto regulations to the Group of 20 most powerful countries in the world. It calls the market an area or arena, online or offline, in which commercial dealings are conducted. volatile and vulnerable.
- FSB to propose crypto regulation to the G20
- Will report in October of this year
- Will be recommended rules for stablecoins and other cryptocurrencies
For months, the Financial Stability Board, FSB the international body that monitors financial systems, has been keeping an eye on cryptocurrencies. In May, in fact, it said that could lead a global regulation of cryptocurrencies . Algo en lo que también organismos como el Tesoro de Estados Unidos está trabajando y entregó al presidente Joe Biden an international regulatory framework .
Now, the Financial Stability Board has said that propose recommendations for the regulation of stable coins and submit a report on the recommended rules for other cryptoassets to the Group of 20, G20 The international organization that brings together the world’s most powerful economies.
La Financial Stability Board (FSB) which also proposes rules aimed at preventing financial crises, plans to present recommendations to regulate cryptocurrencies in October according to a statement today.
Las recomendaciones cubrirán las monedas estables y otros criptoactivos, dijo la junta.
Volatility and vulnerability
“The FSB is working to ensure that cryptoassets are subject to robust regulation and oversight” said the statement, adding that the recent “ turbulence” in the cryptomarkets highlights intrinsic volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. and structural vulnerabilities, as well as the growing interconnection between cryptomarkets and the traditional financial system.
That is why in October, the FSB plans to submit a public consultation report to the G-20 on the review of its “high-level recommendations for the regulation, supervision and oversight of stable currencies”. . The proposed rules may include ways to expand existing frameworks to “close loopholes” and implement the recommended regulations.
The FSB also plans to submit a public consultation report with recommendations to “promote international consistency of regulatory and supervisory approaches for other cryptoassets.” The statement did not identify the other assets.
Highlight Coindesk, that the recent cryptomarket recession and the collapse of the private stable currency currency is a medium of exchange that defines value. EarthUSD (UST) is accelerating regulatory action.
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