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Policy

Crypto, Tokenization, AI Are Priorities for Monitoring, FSB Says Ahead of G20 Meeting

The Financial Stability Board plans to publish a status report on its crypto roadmap and a report on the financial stability implications of tokenization.

Updated Mar 8, 2024, 10:07 p.m. Published Feb 26, 2024, 12:27 p.m.
16:9 Office (Benjamin Child/ Unsplash)
16:9 Office (Benjamin Child/ Unsplash)
  • The FSB said it will continue spearheading crypto policy efforts in 2024.
  • The body plans to release reports on crypto, tokenization and AI, and ensure its global regulatory framework for crypto is implemented.

Crypto assets, tokenization and artificial intelligence (AI) remain priorities for monitoring by the Financial Stability Board, which keeps an eye on the global financial system, Chair Klaas Knot said in a letter to finance ministers from the Group of 20 (G20) countries.

Monday's letter comes ahead of a G20 meeting to be held in Sao Paulo on Wednesday and Thursday. It also outlines the group's plan to publish a status report on its crypto roadmap and a report on the financial stability implications of tokenization in October. The board, which coordinates with 24 countries, intends to report on the financial stability implications of AI the month after that.

The FSB spearheaded efforts to create a global regulatory framework for crypto last year, when the asset class started to recover from a crippling crypto winter caused by the failures of multiple firms including crypto exchange FTX. The FSB and the International Monetary Fund (IMF) announced a widely anticipated crypto policy roadmap last year that called for global coordination on crypto policy.

"A key focus for us in 2024 and beyond is on the effective implementation of the FSB’s global regulatory and supervisory framework for crypto-asset activities and markets and for global stablecoin arrangements, which was endorsed by G20 leaders at their New Delhi Summit," Knot said. The New Delhi meeting took place in September last year.


Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.

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