Separation of funds for crypto platforms, cross-border cooperation for regulators and obligatory licenses for stablecoins — that's what the FSB would recommend to the G-20.
The Financial Stability Board — an international organization that monitors the global financial system — has come up with a global regulatory framework for crypto. The guidelines recommended to the 20 leading economies of the world, known as the G20, are crafted upon the principle of “same activity, same risk, same regulation.”on July 17.
The international body is also quite open about its appreciation of privacy, as it demands local regulators make sure that there is no activity that “may frustrate the identification of the responsible entity or affiliated entities,” pointing to decentralized finance protocols. One of the high-level recommendations states:
As for so-called global stablecoins, the FSB emphasizes that any stablecoin issuer should have one or more identifiable and responsible legal entities or individuals it calls a “governance body.” It says issuers must hold reserve assets in 1:1 minimal proportion unless the issuer “is subject to adequate prudential requirements” equivalent to commercial bank standards.
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