News 
Coin Information 
About us 
The Financial Stability Board (FSB), the renowned global financial watchdog, has successfully put forward an extensive regulatory framework for cryptocurrency, targeting the twenty mightiest economies worldwide, colloquially known as the G20. The framework is constructed around a guiding principle.
Unveiled on July 17, the FSB released a public note and two guideline documents, presenting two sets of recommendations. The first set offers general instructions for crypto regulation, while the latter introduces "revised high-level recommendations" for what is referred to as a "global stablecoin." This term signifies a stablecoin that possesses utility beyond a single jurisdiction.
Emphasizing the importance of client asset protection and avoiding conflicts of interest, the FSB advises cryptocurrency platforms to keep client assets distinctly separate from their own. The board also insists on strict cross-border supervision and cooperation among regulators.
Addressing privacy concerns, the FSB advises local authorities to prevent activities that hinder the identification of accountable entities or their affiliates, particularly alluding to decentralized finance (DeFi) protocols. One of the recommendations states, "Authorities should be allowed access to data as required and suitable for fulfilling their regulatory, supervisory, and oversight mandates."
Regarding "global stablecoins," the FSB underlines the need for issuers to have a defined and accountable "governance body." The board also dictates that issuers maintain reserve assets in a minimum 1:1 proportion, unless they comply with prudential requirements similar to commercial bank standards.
A notable addition is the potential requirement for "global stablecoin" issuers to secure permits for operations in each jurisdiction. The FSB aims to assess the worldwide progress of recommendation implementation by the end of 2025. In collaboration with the International Monetary Fund, a joint report on existing policies and regulatory concerns will be submitted to the G20 by September 2023.
Acknowledging the FSB's stance, the Association for Financial Markets in Europe prompted EU legislators to incorporate the DeFi category into the inaugural EU-wide crypto framework earlier in July.
Comment 0