TechFlow news — Financial Stability Board (FSB) Chair Klaas Knot wrote in a letter on Tuesday that the FSB and the International Monetary Fund (IMF) will release a joint report on global crypto policy.
The global standard-setting body FSB and the United Nations economic agency IMF will present the document at this weekend’s G20 summit. The report includes a roadmap for implementing a policy framework for crypto assets, covering global coordination, cooperation, and information sharing.
The letter stated that events such as the collapse of crypto exchange FTX and the TerraUSD stablecoin have highlighted "vulnerabilities" in the crypto sector, warranting close monitoring given the increasing interconnectedness between crypto assets and the broader financial system.
"Risks from crypto assets extend beyond financial stability and may include macroeconomic risks related to monetary sovereignty, capital flow volatility, and fiscal policy," Klaas Knot wrote.
