FSB Chairman: Cryptocurrency guidelines will be completed before July, and most existing stablecoins do not meet the new standards

ChainCatcher news, Financial Stability Board (FSB) Chairman Klaas Knot stated that the FSB will complete its guidelines for regulating cryptocurrencies and stablecoins by July, aimed at strengthening the governance framework, redemption, and stability mechanisms of stablecoins. Klaas Knot mentioned that many existing stablecoins do not comply with the upcoming international standards. The FSB indicated last week that it will collaborate with other standard-setting bodies to determine how to regulate DeFi and also plans to publish a document with the International Monetary Fund (IMF) on regulatory issues related to cryptocurrencies. (Source link)