Financial Stability Board Calls for Unified Crypto Regulations to Counter Arbitrage
The Financial Stability Board (FSB) Plenary convened in Toronto on June 14. Covering a range of financial stability matters.
Discussions centered on the financial stability outlook, insights gained from the March 2023 banking turmoil, and strategies for bolstering the resilience of non-bank financial intermediation (NBFI). Notably, the FSB assessed advancements in implementing its global regulatory framework for crypto asset activities. Underlining the necessity of widespread global adoption to curb regulatory arbitrage risks, especially in emerging markets and developing economies (EMDEs).
Moreover, attention was directed towards the challenges presented by global stablecoin arrangements in these regions. Alongside considerations of nature-related financial risks.
Clever Robot News Desk 18th June 2024
