The international monitoring body Financial Stability Board, or FSB, has proposed a comprehensive framework for cryptocurrencies aimed at addressing potential risks while “harnessing potential benefits of the technology.”
In an Oct. 11 report, the FSB opened a possible crypto regulatory framework to public comment including proposed policy initiatives, financial stability risks and the approach the group could use to establish guidelines for digital assets. According to the report, the FSB will submit proposed recommendations “to promote the consistency and comprehensiveness of regulatory, supervisory and oversight approaches to crypto-asset activities and markets” to the G20 finance ministers and central bank governors.
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