The Financial Stability Board will expand its work on stablecoin risks in emerging and developing economies

ChainCatcher news, according to CoinDesk, the Financial Stability Board (FSB) has announced that it will expand its research on the risks of stablecoins in emerging and developing economies.

The FSB pointed out that while these economies generally welcome digital financial innovation, the widespread use of stablecoins could pose a threat to their monetary policy and financial stability. The FSB plans to address these risks through in-depth analysis, including an assessment of the differences and gaps in the current regulatory frameworks of various countries. At the same time, the FSB calls for global collaboration to promote unified regulatory standards for stablecoins to ensure the safety and stability of cross-border payments and financial systems. This move has received support from G20 countries, which emphasize the need to strengthen the regulation of crypto assets to prevent a recurrence of incidents like last year's FTX and Celsius collapses.