The Financial Stability Board has published summary terms of reference and invited stakeholder feedback for a thematic peer review of how its global regulatory framework for crypto-asset activities is being implemented. The review will examine progress in FSB member and selected non-member jurisdictions in applying the frameworkâs high-level recommendations for crypto-asset activities and markets and for global stablecoin arrangements, and will identify lessons learned. The exercise combines a questionnaire sent to relevant jurisdictions with external input from market participants and other stakeholders. The FSB is seeking evidence on how jurisdictional frameworks affect where crypto-asset issuers and service providers choose to locate and structure their business, the main compliance and supervisory challenges firms face, how financial stability vulnerabilities differ across jurisdictions and evolve as rules are implemented, and whether market practices or regional or segment-specific trends could pose broader financial stability risks. Feedback is due by 28 March 2025. The peer review report is expected in October 2025.
Financial Stability Board2025-02-21
Financial Stability Board seeks feedback for peer review of global crypto asset and stablecoin framework implementation
The Financial Stability Board has launched a thematic peer review of implementation of its global regulatory framework for crypto-asset activities, including markets and global stablecoin arrangements, and published summary terms of reference. The review will assess progress in FSB member and selected non-member jurisdictions, using questionnaires and external input to examine how regulatory frameworks influence firm location and structure, key compliance challenges, and evolving financial stability vulnerabilities and risks.