IMF and FSB Collaborate to Issue Unified Policy Recommendations for Crypto Assets

In response to a request from the Indian G20 presidency, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) have jointly released a comprehensive paper featuring policy recommendations. This collaborative effort aims to harmonize existing standards and consolidate collective guidance, offering jurisdictions worldwide valuable insights to manage risks associated with crypto asset activities.

The policy paper encompasses recommendations pertaining to the regulation of activities linked to stablecoins and decentralized finance (DeFi). It additionally outlines the synergy between regulatory frameworks and policies developed independently by the IMF and the FSB. Importantly, the paper does not introduce new policies, recommendations, or expectations for relevant regulatory authorities.

This initiative reflects the global efforts to establish a cohesive and well-informed approach to crypto asset governance, as these digital assets continue to gain prominence in the financial landscape. By harmonizing existing standards and providing collective recommendations, the IMF and FSB aim to support countries in effectively navigating the challenges and opportunities presented by crypto assets.

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