Financial Stability Board: Cryptocurrencies, Tokenization, and AI Remain Key Focus Areas for the Board's Monitoring

ChainCatcher news, according to CoinDesk, Klaas Knot, the chair of the Financial Stability Board (FSB), stated in a letter to the finance ministers of the G20 countries that crypto assets, tokenization, and artificial intelligence (AI) remain key areas of focus for the committee, which is responsible for monitoring the global financial system.

It is reported that this letter was sent on the Monday before the G20 meeting held in São Paulo on Wednesday and Thursday. It also outlined the organization's plan to release a status report on its crypto roadmap and a report on the impact of tokenization on financial stability in October. The committee is coordinating with 24 countries and intends to report on the impact of AI on financial stability in the month following that.

Knot stated, "One of our focuses in 2024 and beyond is the effective implementation of the FSB's global regulatory and supervisory framework for crypto asset activities and markets, as well as global stablecoin arrangements, which was endorsed by G20 leaders at the summit in New Delhi." The New Delhi meeting took place in September of last year.