The Financial Stability Board (FSB) Plenary met in Toronto on June 14 to discuss various financial stability issues. Key topics included the financial stability outlook, lessons from the March 2023 banking turmoil, and enhancing the resilience of non-bank financial intermediation (NBFI). The FSB also reviewed progress on implementing its global regulatory framework for crypto asset activities. Members emphasized the need for broad global implementation to mitigate regulatory arbitrage risks in the crypto space, particularly in emerging markets and developing economies (EMDEs). Additionally, the FSB addressed the challenges posed by global stablecoin arrangements in these regions and discussed the impact of nature-related financial risks.
Financial Stability Board Emphasizes Need for Global Crypto Regulation to Prevent Arbitrage
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