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FSB: note to G20 on global stablecoin vulnerabilities

Jurisdiction
Global
Regulator
FSB
Published
Updated

What changed

The FSB published a note to G20 finance ministers and central bank governors summarising its work on cross-border vulnerabilities of global stablecoin arrangements, with data for financial stability monitoring. The note says further work could include enhanced monitoring of cross-border vulnerabilities and support for implementing the FSB's 2023 recommendations, particularly through cross-border cooperation and information sharing.

Matters for

The note is addressed to G20 finance ministers and central bank governors, and concerns authorities assessing global stablecoin arrangements.

Read the source: FSB fsb.org

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US · OCC · LawThe OCC announced a final rule implementing the GENIUS Act. It sets requirements for permitted and foreign payment stablecoin issuers under its jurisdiction, and for certain custody activities of OCC-supervised entities.EU · ESMA · StatementESMA published a new question and answer (2949) on the use by crypto-asset service providers (CASPs) of payment accounts provided by non-bank payment service providers for holding clients' funds. The page lists only the title of the Q&A, not its content.Argentina · CNV · DecisionThe CNV approved changes to the regulatory framework for virtual asset service providers (PSAVs), based on experience since the regime was introduced. It adds a procedure for changing a PSAV's registration category and for updating the Registry when circumstances change.

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