G20 Risk Watchdog Warns of Major Gaps in Global Crypto Regulation

 G20 Risk Watchdog Warns of Major Gaps in Global Crypto Regulation

The Financial Stability Board (FSB) has issued a warning that the world’s attempts to regulate the rapidly growing crypto markets are riddled with “significant gaps”, potentially threatening financial stability.
In its latest review, the FSB noted that although some nations have made regulatory strides, the global response to cryptocurrency—and especially stablecoins—remains disjointed, inconsistent, and insufficient to cover cross-border risks.
Among major concerns:

• Few countries have robust legal frameworks for stablecoins, despite their growing market presence (estimated at nearly $290 billion). 

• Offshore and unregulated activities pose spillover risks for domestic financial systems.
  The FSB recommends accelerating international cooperation, closing legal loopholes, and aligning stablecoin laws across jurisdictions.