FSB ISSUES REPORT TO G20 ON CRYPTO-ASSET REGULATION
Regulation Asia on 4th June reported that the FSB (Financial Stability Board) has published a report for the G20 Finance Ministers and Central Bank Governors on crypto-assets, detailing the work underway globally on regulatory and supervisory approaches, and the potential gaps. The new report covers the work of the BCBS (Basel Committee on Banking Supervision), CPMI (Committee on Payments and Market Infrastructures), IOSCO (International Organization of Securities Commissions), FATF, OECD, and the FSB. The work is mainly focused on investor protection, market integrity, AML, bank exposures and financial stability monitoring. The FSB continues to assess that crypto-assets do not pose material risks to global financial stability at present, but that they do raise a number of further policy issues beyond financial stability. The report considers whether more member co-ordination is required to address crypto-asset issues. The FSB recommendation is to continue monitoring and keep crypto-assets under review. The report is being delivered to G20 Finance Ministers and Central Bank Governors for their meeting in Fukuoka, Japan on June 8th/9th.
The report is available at –
CONSULTATION: ISSUES, RISKS AND REGULATORY CONSIDERATIONS RELATING TO CRYPTO-ASSET TRADING PLATFORMS
In May, IOSCO published a consultation report evaluating the issues and risks relating to crypto-asset trading platforms, focusing on the implications for investor protection and market integrity. In 2019, the body will also study issues concerning investment funds with exposures to crypto-assets.