Financial Stability Board to Publish Final Report on Crypto International Regulatory Framework in July 2023

The Financial Stability Board (FSB), which coordinates cross-border financial regulation and formulates and implements global financial standards, released the public's response to the international regulatory framework for encrypted asset activities proposed by the FSB. CBOE, American Bankers Association, Standard Chartered Bank and other traditional financial companies have provided written opinions, among which traditional financial players want to adopt stricter new international encryption rules to prevent FTX-style conflicts of interest, FSB is expected to publish in July 2023 final report. Foresight News previously reported that the FSB will develop steps to regulate the cryptocurrency industry in early 2023 and enact the measures quickly.