High-level recommendations include cross-border cooperation and information sharing between regulators.
The Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis paper of the International Monetary Fund and the Financial Stability Board in September.On Oct.
The IMF-FSB Synthesis Paper advocates for comprehensive supervisory oversight of crypto instead of a blanket ban. Its high-level recommendations include cross-border cooperation and information sharing between regulators, a demand for comprehensive governance and risk management frameworks for crypto companies, and a guarantee of access to relevant data provided by companies to the authorities.
Regulators worldwide have been calling for a global framework on crypto recently. Mário Centeno, the governor of Banco de Portugal,by the executive director of strategy, policy and control at the German Federal Financial Supervisory Authority, who prompted about the inconsistencies existing on a global scale.
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