FSB: Bitcoin ETFs and ‘rapid changes’ in crypto industry necessitate stronger regulation
The Financial Stability Board (FSB), which is responsible for regulating the global financial system, has released its comprehensive work plan for 2024, calling on countries to accelerate the implementation of cryptocurrency regulation, as the "rapid changes" in Bitcoin ETFs and the cryptocurrency industry are driving this demand.
In addition, the FSB is focusing on ensuring the effective implementation of global regulatory and supervisory frameworks for cryptocurrency asset activities and markets, as well as global stablecoin arrangements. By 2024, the FSB will complete its work on the impact of tokenization on financial stability, prepare a G20 report on the latest developments in artificial intelligence and its potential impact on financial stability, and enhance network resilience by coordinating financial stability through the design of Financial Stability Event Report Exchange (FIRE) formats.
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