Global Financial Regulator Publishes Framework to Track Cryptocurrency Markets

Global Financial Regulator Publishes Framework to Track Cryptocurrency Markets

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July 16, 2018 by Ian Moore
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  The Financial Stability Board (FSB), an international body monitoring the global financial system, has published a framework to monitor the implications of crypto-assets on financial stability. In the report titled “Crypto-assets: Report to the G20 on the work of the FSB and standard-setting bodies”, the FSB sets out the metrics it intends to use
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The Financial Stability Board (FSB), an international body monitoring the global financial system, has published a framework to monitor the implications of crypto-assets on financial stability.

In the report titled “Crypto-assets: Report to the G20 on the work of the FSB and standard-setting bodies”, the FSB sets out the metrics it intends to use in monitoring cryptocurrency markets as part of its efforts to assess the vulnerabilities of the financial system.

The framework has been developed by the FSAB, in collaboration with the Committee on Payments and Market Infrastructures (CPMI).

“While the FSB believes that crypto-assets do not pose a material risk to global financial stability at this time, it recognizes the need for vigilant monitoring in light of the speed of market developments,” the FSB said.

The framework encompasses transmission channels, size, and growth of crypto-asset markets, as well as metrics on trading volumes, pricing, clearing and margining for crypto-asset derivatives. Metrics on financial institution exposures to crypto-asset markets will be included to the extent that they become available, according to the official release.

Earlier this year, G20 finance ministers agreed on a July deadline for presenting the first proposals on regulating crypto-assets.

The FSB said that the Financial Action Task Force (FATF) will report separately to the G20 on its work concerning the money laundering and terrorist financing risks relating to crypto-assets.

 


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