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ARTICLE · 26 JULY 2023

Final FSB Recommendations On Global Crypto Regulations: Key Highlights

Economic Laws Practice
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The Financial Stability Board ("FSB"), an international body, headquartered in Basel, Switzerland, monitors and suggests recommendations on the global financial system.

IndiaTechnology
Stella Joseph
Stella Joseph
Yash Desai
Yash Desai
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Introduction

The Financial Stability Board ("FSB"), an international body, headquartered in Basel, Switzerland, monitors and suggests recommendations on the global financial system. On the request of the G20, the FSB issued two reports (dated July 17 2023) titled, "High-level Recommendations for the Regulation, Supervision and Oversight of (i) Crypto-Asset Activities and Markets; and (ii) Global Stablecoin Arrangements", which set out high level recommendations on regulatory, supervisory and oversight issues relating to crypto-assets and Global Stablecoin ("GSC") arrangements with the intent to help adopt safe innovation.

The third G20 meeting of Finance Ministers and Central Bank Governors (FMCBG) under the Indian Presidency which was held during 17th-18th July 2023 in Gujarat, jointly chaired by Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman, and Governor, Reserve Bank of India, Shri Shaktikanta Das has also welcomed1 the

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