FIN.

FSB Report on Crypto-Asset Risks

The FSB has published a report on crypto-assets,  which will be delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Fukuoka in June 2019.

In particular the report notes:

  • the work undertaken by international organisations to address the issues arising from crypto-assets. They are mainly focused on investor protection, market integrity, anti-money laundering, bank exposures and financial stability monitoring.
  • that gaps may arise in cases where crypto-assets are outside the perimeter of market regulators and payment system oversight. To some extent, this is due to the nature of crypto-assets, which may have been designed to function outside established regulatory frameworks.
  • that regulatory approaches towards crypto-assets vary across jurisdictions; and in some jurisdictions, crypto-assets are banned outright.
  • that although assessing the significance of the potential gaps is challenging, a forward-looking approach to monitoring crypto-assets can help provide a basis for identifying potential gaps and areas that should be prioritised.

The report also recommend that the G20 keep the topic of regulatory approaches and potential gaps, under review.

FIN. Team