Tag: G20

G20

FSB Reports to G20…and it’s a Familiar Message

The Financial Stability Board (FSB) has published a letter from its chair Randal Quarles to G20 finance ministers and central bank governors ahead of their meetings in Washington this week and the message from the letter is largely the same as it has been for some time – work is progressing but more needs to be […]

10 Years On – G20 Reform Agenda Continues with Crypto in the Sights

A decade after it was tasked with driving reform of the financial system, the Financial Stability Board (FSB) has reported to G20 leaders that while much has been achieved, “promoting global financial stability is a continuous task”. In a letter to the leaders, current FSB chair Randal Quarles says that the FSB’s transition from determined […]

FSB: Cryptoassets Not a Risk to Financial Stability

In a new report to the G20, the Financial Stability Board (FSB) has concluded that “cryptoassets do not pose a material risk to global financial stability at this time”.

While this is a welcome boost for the crypto industry, the FSB does make clear that these assets should be vigilantly monitored by authorities going forward.

As such, the FSB has requested that the Standing Committee on Assessment of Vulnerabilities (SCAV) and the Committee on Payments and Market Infrastructures (CPMI) work jointly to develop a framework for monitoring the financial stability risks related to cryptoassets with a focus on identifying potential metrics that can be used to measure these risks.