Financial Stability Board published crypto-assets regulators directory
Tue, 09 Apr 2019, 03:54 am UTC
The Financial Stability Board (FSB), an international body monitoring the global financial system, has published a Crypto-assets regulators directory.
The publication of the directory is part of the efforts of the FSB and standard-setting bodies on crypto-assets.
In a press release dated April 05, the FSB said:
“The purpose of the directory is to provide information on the relevant regulators and other authorities in FSB jurisdictions and international bodies who are dealing with crypto-asset issues, and the aspects covered by them.”
The directory names the regulatory authorities of several countries including Australia, China, India, Japan, Korea, Switzerland, the United Kingdom, the United States, and the European Union, as well as international organizations including the Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI), the Financial Action Task Force (FATF), the International Monetary Fund (IMF), the International Organization of Securities Commissions (IOSCO), the Organisation for Economic Cooperation and Development (OECD), and the World Bank.
It will be delivered to the G20 Finance Ministers and Central Bank Governors meeting on 11-12 April 2019.
In October 2018 the FSB released a report, “Crypto-asset markets: Potential channels for future financial stability implications” which said that crypto-assets currently do not pose a material risk to global financial stability, but called for “vigilant monitoring” of the market developments.
Previously in July, it published a framework to monitor the implications of crypto-assets on financial stability. The FSB said that it closely monitors financial stability implications of developments in crypto-assets using this framework, which was developed in collaboration with the Committee on Payments and Market Infrastructures.
Recent reports suggest that G20 member countries are going to discuss international cryptocurrency Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) regulation at the Finance Minister and Central Bank Governors meeting on June 8 and 9 in Fukuoka, Japan.
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