FSB Calls for Global Stablecoin Regulation Action at G20 Meeting[embed]https://www.youtube.com/watch?v=3uaxOlmy2Jw[/embed]

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 <p> <h3 class="m-size-18"><span style="display: initial;" class="m-font-size-18" m-font-size-set="true">Consistent Activities, Risks, and Regulations: FSB's Guidelines for Promoting Fairness in the Stablecoin Industry</span></h3> 
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 <div class="u_1250789679 dmNewParagraph" data-element-type="paragraph" id="1250789679" style="transition: none 0s ease 0s; display: block; text-align: left;" data-version="5"><p><span style="display: initial;">As we gear up for the forthcoming G20 Finance Ministers and Central Bank Governors meeting in India, Klaas Knot, the Chair of the Financial Stability Board (FSB), has pointed out the recent banking challenges and reaffirmed the FSB's resolve to extract essential lessons from these occurrences. In a letter to G20 officials, Knot emphasised the necessity of tackling risks tied to crypto-assets and global stablecoin arrangements, while also providing updates on climate-related financial risk mitigation efforts.</span></p><p><span style="display: initial;">"I am therefore pleased to present to the G20 our finalized recommendations for the regulation, supervision, and oversight of both crypto-assets and markets, as well as global stablecoin (GSC) arrangements," Knot remarked. These recommendations are designed to create comprehensive and uniform global regulatory frameworks for these asset classes, ensuring a level playing field and a technology-agnostic approach. The release of these recommendations signifies a crucial achievement in the FSB's endeavors.</span></p><p><span style="display: initial;">The FSB's recommendations are based on the principle of "same activity, same risk, same regulation," underscoring the need for uniform regulatory and supervisory approaches across different jurisdictions. Knot stressed the importance of swiftly implementing these recommendations worldwide, stating, "Our focus must now be on the comprehensive and effective implementation of the recommendations globally." The FSB plans to review the progress of member jurisdictions' implementation by the end of 2025.</span></p><p><span style="display: initial;">To prevent a disjointed regulatory environment that could lead to crypto-asset activities moving towards less regulated jurisdictions, Knot underscored the importance of enhancing cross-border collaboration and information sharing. "We must avoid a globally fragmented regulatory system," he affirmed. Achieving this goal will necessitate close cooperation among international authorities, united by a shared commitment to strong regulatory standards.</span></p><p><span style="display: initial;">As the G20 Finance Ministers and Central Bank Governors gather, the FSB's reports on crypto-assets, markets, and global stablecoins will serve as critical references. These reports outline a plan for addressing risks associated with open-ended funds and third-party service providers while also detailing the progress made in dealing with climate-related financial risks.</span></p><p><span style="display: initial;">Klaas Knot's correspondence highlights the FSB's commitment to maintaining the stability and integrity of global financial markets. Through advocating for comprehensive and consistent regulatory frameworks, the FSB seeks to create a secure and equitable environment for crypto-assets and stablecoins. The focus now shifts to the successful implementation of these recommendations, strengthening international collaboration and reducing regulatory arbitrage.</span></p></div>  

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 <div class="u_1469352063 dmNewParagraph" data-element-type="paragraph" data-version="5" id="1469352063"><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">Disclaimer:</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">GlobalStablecoins.com serves as an informational platform offering news about coins, blockchain enterprises, blockchain products, and related events. This should not be interpreted as investment advice. Consult with a financial advisor before considering investment in an ICO, Cryptocurrencies, Cryptoassets, Security Tokens, Utility Tokens, Exchange Tokens, Global Stablecoins, Stablecoins, or eMoney Tokens. GlobalStablecoins.com is not liable, directly or indirectly, for any damages or losses incurred, whether alleged or otherwise, in connection with the use or reliance on any content available on the site.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;"><br/>Affiliate Disclosure / Sponsored Posts:</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">If a Sponsored Post mentions any cryptocurrency project, we advise our readers to perform due diligence before taking further action. GlobalStablecoins.com does not endorse that any cryptocurrency should be purchased, sold, or retained by you. Always conduct your own research and consult a financial advisor prior to making any investment choices.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">Before investing in Cryptoassets, you should be aware of the following:</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">Cryptoassets are categorized as very high-risk, speculative investments.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">If you invest in Cryptoassets, you must be ready to potentially lose all of your money.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">All Sponsored Posts are compensated by cryptocurrency projects, coin foundations, advertising agencies, PR firms, or other marketing organizations. GlobalStablecoins.com is not affiliated with any marketing agency, nor are we owned by any cryptocurrency or blockchain foundation.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">The purpose of providing Sponsored Posts to our advertisers is to support the daily operational expenses of GlobalStablecoins.com. </span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">If you encounter a Sponsored Post that appears to be fraudulent or a "scam," please reach out to us and we will conduct an immediate inquiry.</span></p></div> 
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