The proposed reporting format is part of the international agency’s support for the G20 crypto asset roadmap adopted last year.
The outlook for global financial stability remains challenging, Financial Stability Board (FSB) chair Klaas Knot told G20 finance ministers and central bankers in a letter. The FSB has a plan though, which it outlined ahead of a meeting of the ministers and bankers Feb. 28-29 in São Paulo. Asset tokenization will be among the areas it concentrates on.
The FSB letter, dated Feb. 20 and released Feb. 26, addressed priority areas that include non-bank financial intermediation, climate change and cross-border payments in addition to digital innovation. “In 2024 we will deliver reports on the financial stability implications of the tokenisation of assets and of AI,” Knot wrote regarding its intended action on crypto.
The G20 policy on a global regulatory and supervisory framework for crypto-assets was endorsed last year. The G20 Roadmap on Crypto Assets was adopted in October based on the G20 New Delhi Leaders’ Declaration passed in July. The FSB and International Monetary Fund collaborated on a Synthesis Paper where the roadmap was proposed.
