{"id":64238,"date":"2022-07-11T15:42:33","date_gmt":"2022-07-11T12:42:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64238"},"modified":"2025-09-06T13:19:22","modified_gmt":"2025-09-06T10:19:22","slug":"g20-unveils-rules-for-crypto-industry-oversight","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/g20-unveils-rules-for-crypto-industry-oversight\/","title":{"rendered":"G20 unveils rules for crypto industry oversight"},"content":{"rendered":"<p>The Financial Stability Board (FSB) of the G20 is set to <a href=\\\"https:\/\/www.fsb.org\/wp-content\/uploads\/P110722.pdf\\\">present<\/a> recommendations for regulating cryptocurrencies in October 2022.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cCrypto assets, including the so-called stablecoins, are developing rapidly. Recent turmoil in digital-asset markets underscores their inherent volatility, structural vulnerabilities and the problem of increasing interconnectedness with the traditional financial system,\u201d the organisation said.<\/p>\n<\/blockquote>\n<p>The FSB noted that losses among crypto investors threaten &#8216;contagion&#8217; to certain traditional financial markets, such as the short-term lending sector.<\/p>\n<p>According to the organisation&#8217;s experts, crypto assets &#8216;should be subject to effective regulation and supervised in a manner proportionate to the threats they pose, at both domestic and international levels&#8217;.<\/p>\n<p>The FSB believes that existing general norms and rules for financial markets apply to digital assets.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cCryptocurrencies are predominantly used for speculative purposes and largely remain outside the financial guarantees that participants in transactions should be fully aware of,\u201d the FSB specialists stressed.<\/p>\n<\/blockquote>\n<p>They said they would present &#8216;a robust approach to regulating and supervising stablecoins and other crypto assets&#8217; in October.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe FSB will also publish, for public consultation, a report that will propose recommendations to foster a coherent international approach to supervising crypto-asset markets and to strengthen cooperation and coordination. These joint efforts by the FSB and global standard-setting bodies aim to minimise the risk of fragmentation and regulatory arbitrage,\u201d the organisation&#8217;s experts noted.<\/p>\n<\/blockquote>\n<p>Earlier, in October 2021, the FSB <a href=\"https:\/\/forklog.com\/en\/news\/fsb-flags-gaps-in-stablecoin-regulation\">formulated ten recommendations<\/a> for a global approach to regulating stablecoins.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Stability Board (FSB) of the G20 is due to present recommendations for regulating cryptocurrencies in October 2022.<\/p>\n","protected":false},"author":1,"featured_media":64239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1324,36],"class_list":["post-64238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-g20","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=64238"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64238\/revisions"}],"predecessor-version":[{"id":64240,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64238\/revisions\/64240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/64239"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=64238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=64238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=64238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}