21 February 2025
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The FSB is committed to promoting implementation of the FSB’s Global Regulatory framework for crypto-assets and engaging beyond G-20 jurisdictions.
The Financial Stability Board (FSB) is currently gathering insights from interested parties as part of its thematic peer review focused on the execution of its global regulatory framework for crypto-asset activities. This framework is structured around two main sets of high-level recommendations aimed at regulating, supervising, and overseeing (i) crypto-asset activities and markets, and (ii) frameworks for “global stablecoins.”
This peer review’s goal is to assess the advancements made by both FSB member and select non-member jurisdictions in adhering to the FSB’s global regulatory framework, while also drawing lessons from their implementation experiences. Further information about the review’s objectives, scope, and procedures is outlined in the Summary Terms of Reference.
To facilitate data collection, the FSB has circulated a questionnaire to pertinent jurisdictions. Moreover, stakeholders are invited to provide feedback on several critical issues, including:
- The influence of different regulatory frameworks on the choices made by crypto-asset issuers and service providers, particularly with respect to stablecoin arrangements and their business configurations.
- The experiences and hurdles encountered by participants in the crypto-asset market as they strive to comply with existing regulatory and supervisory standards.
- The distinctions in financial stability vulnerabilities posed by crypto-asset activities, including stablecoins, across various jurisdictions, particularly regarding the scale and significance of service adoption, and how these vulnerabilities evolve over time as regulations are applied.
- Identifying specific market practices or emerging trends in particular regions or segments that may represent risks to financial stability.
Interested parties can submit their feedback to [email protected] by March 28, 2025. Submissions should be marked with the subject “FSB Thematic Peer Review on global crypto.” It is important to note that individual responses will remain confidential. The findings from this peer review are expected to be published in October 2025.
