In a collaborative effort to standardize regulations related to cryptocurrencies, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) have presented a carefully crafted policy document.
Presented at the request of the Indian presidency of the G20, this document aims to consolidate existing standards and provide cohesive recommendations. The main objective? To help global jurisdictions address the various risks associated with crypto asset activities.
Decoding the Regulations of Stablecoins and DeFi
As the world of cryptocurrencies is vast and diverse, the policy document focuses on the regulatory dynamics of stablecoins and decentralized finance (DeFi). It describes how the regulatory plans developed by the two institutions can coexist symbiotically, ensuring that regulatory bodies operate in synergy rather than discord.
In particular, the joint document refrains from imposing new policies or establishing new standards. Instead, it proposes a framework, offering perspectives without dictating conditions, allowing for adaptive implementation by the respective authorities.
