{"id":160261,"date":"2022-07-13T11:04:28","date_gmt":"2022-07-13T11:04:28","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160261"},"modified":"2022-07-13T11:04:28","modified_gmt":"2022-07-13T11:04:28","slug":"g20-watchdog-announces-robust-global-crypto-regulation-coming-in-october-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/g20-watchdog-announces-robust-global-crypto-regulation-coming-in-october-regulation-bitcoin-news\/","title":{"rendered":"G20 Watchdog Announces 'Robust' Global Crypto Regulation Coming in October – Regulation Bitcoin News"},"content":{"rendered":"

The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October.<\/strong><\/p>\n

FSB to Present Robust Crypto Regulatory Framework to G20 in October<\/h2>\n

The Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, released a statement Monday on the “international regulation and supervision of crypto asset activities.”<\/p>\n

The G20 watchdog stated that it is committed to promoting “international consistency of regulatory and supervisory approaches amongst national authorities and international standard-setters as they work towards developing risk-based, technology-neutral policy for the wide spectrum of crypto-assets, grounded in the principle of ‘same, activity, same risk, same regulation.’”<\/p>\n

Noting that crypto assets, including stablecoins, are fast evolving, the FSB explained that the recent turmoil in crypto markets “may have spill-over effects on important parts of traditional finance such as short-term funding markets.” The organization detailed:<\/p>\n

\n

An effective regulatory framework must ensure that crypto-asset activities posing risks similar to traditional financial activities are subject to the same regulatory outcomes, while taking account of novel features of crypto-assets and harnessing potential benefits of the technology behind them.<\/p>\n<\/blockquote>\n

“Crypto-assets and markets must be subject to effective regulation and oversight commensurate to the risks they pose, both at the domestic and international level,” the FSB elaborated.<\/p>\n

Furthermore, crypto service providers “must at all times ensure compliance with existing legal obligations in the jurisdictions in which they operate,” the financial stability watchdog detailed.<\/p>\n

<\/p>\n

The statement continues:<\/p>\n

\n

The FSB is working to ensure that crypto-assets are subject to robust regulation and supervision.<\/p>\n<\/blockquote>\n

“The FSB will report to the G20 finance ministers and central bank governors in October on regulatory and supervisory approaches to stablecoins and other crypto-assets,” the watchdog concluded.<\/p>\n

In February, the FSB published a report examining the risks crypto poses to financial stability. The report noted that “Crypto-asset markets are fast evolving and 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.”<\/p>\n

Last week, the U.S. Treasury Department submitted a crypto framework for international engagement to President Joe Biden as directed in the executive order issued back in March.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Stability Board (FSB) says it<\/p>\n","protected":false},"author":3,"featured_media":160260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nG20 Watchdog Announces 'Robust' Global Crypto Regulation Coming in October – Regulation Bitcoin News - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/g20-watchdog-announces-robust-global-crypto-regulation-coming-in-october-regulation-bitcoin-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"G20 Watchdog Announces 'Robust' Global Crypto Regulation Coming in October – Regulation Bitcoin News - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The Financial Stability Board (FSB) says it\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/g20-watchdog-announces-robust-global-crypto-regulation-coming-in-october-regulation-bitcoin-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-13T11:04:28+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/07\/G20-Watchdog-Announces-039Robust039-Global-Crypto-Regulation-Coming-in-October-ndash-Regulation-Bitcoin-News.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/g20-watchdog-announces-robust-global-crypto-regulation-coming-in-october-regulation-bitcoin-news\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/g20-watchdog-announces-robust-global-crypto-regulation-coming-in-october-regulation-bitcoin-news\/\",\"name\":\"G20 Watchdog Announces 'Robust' Global Crypto Regulation Coming in October – Regulation Bitcoin News - 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