Financial Stability Committee: Cryptocurrencies, tokenization, and AI remain top priorities for monitoring

On February 26, according to CoinDesk, Klaas Knot, the Chair of the Financial Stability Board (FSB), stated in a letter to finance ministers of the G20 countries that cryptocurrencies, tokenization, and artificial intelligence (AI) remain key areas of focus for the committee responsible for monitoring the global financial system. The letter was sent out on Monday before the G20 meeting held in São Paulo on Wednesday and Thursday. It also outlined plans for the organization to release a status report on its crypto roadmap in October and a report on how tokenization impacts financial stability. The committee is coordinating with 24 countries and intends to report on AI's impact on financial stability in the following month. Knot said: "One of our priorities from 2024 onwards is effective implementation of global regulatory and supervisory frameworks by FSB for activities and markets related to cryptocurrencies as well as arrangements for global stablecoins, which were endorsed by G20 leaders at their summit in New Delhi." The New Delhi summit took place last September.