The Financial Stability Board (FSB) is planning to come up with a report on supervisory approaches for stablecoins and other crypto assets in October this year, as per the statement released recently. The report will be submitted to the G20 Finance Ministers and Central Bank Governors and is expected to subject crypto assets to “robust regulation and supervision”, the statement continued. Why it matters: The FSB is an influential body that has a sizable impact on the economic affairs of G20 member countries. The regulations proposed by the FSB also serve as a blueprint for various nations who are not a part of the Group. The new set of rules is likely to introduce a regulatory regime for crypto assets, signalling that the nascent sector’s growing influence has necessitated regulations. What will the report contain: The FSB said that the report…
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