G20 watchdog to propose first global crypto rules in October
The Financial Stability Board (FSB), which is a group of 20 regulators, treasury officials, and central bankers of the G20 nations, plans to establish “strong” worldwide standards for cryptocurrencies this October.
“The failure of a market player, in addition to imposing potentially large losses on investors and threatening market confidence arising from crystallisation of conduct risks, can also quickly transmit risks to other parts of the crypto-asset ecosystem,” the FSB said in a statement.