Cryptocurrencies are hot! Regulators have accelerated the push for the first global rule framework

Officials of international regulators said on Wednesday (9th) that in the face of the rapid development of cryptocurrency assets around the world, the regulator is late, but the first global rule framework is expected to be launched in the coming months.

The Financial Stability Board (FSB), an international organization of regulators, central bank and treasury officials of G20 economies, is currently studying how to deal with cryptocurrency assets such as bitcoin and stablecoins, Reuters reported.

Crypto assets currently do not have a common set of rules in the world, some countries have issued bans to completely ban cryptocurrencies, while more countries have no regulations. The EU is currently approving a comprehensive set of standards for authorizing and supervising participants in the crypto asset market.

Robert Ophele, director of the French Financial Markets Authority (AMF) and member of the FSB, said regulators were following the "universal basic principles" of the same rules to deal with the same risks.

OFIL ADMITS ADMITS THAT IT DOES HOPE TO HAVE INTERNATIONAL REGULATIONS TO REGULATE THE MARKET, WHICH IS MAINLY FOR STABLECOIN AND DIGITAL ASSET SERVICE PROVIDERS. Ofiler then also mentioned that the regulator's actions have not yet caught up with this trend, mainly because crypto assets do not yet pose a threat to financial stability, but this will now be a top priority for the FSB.

Ofil said the FSB expects to implement and implement these issues in the coming quarters, and the authorities are going all out. The FSB does not have the power to make binding rules, but member states have pledged to introduce regulatory principles into their own national norms.