FSB Chair Prioritizes Stablecoins Ahead of G20 Meeting | CoinDesk JAPAN

• FSB Chairman Andrew Bailey stated that evaluating the role of stablecoins in payments and settlements will be a priority for the FSB.
• Following the U.S. Senate's passage of the stablecoin bill "Genius", stablecoins are becoming an increasingly priority for regulatory authorities around the world.

Mr. Bailey, who assumed the chairmanship in July, stated that ahead of the two-day G20 meeting starting on the 17th, the FSB should continue to implement the agreed-upon stablecoin recommendations and monitor trends in this area across jurisdictions.

The Financial Stability Board (FSB), which promotes global financial stability, proposed regulations in 2021 to monitor stablecoins with the aim of preventing disruptions to the global economy caused by the rise of stablecoins. Last year, it stated that it would strengthen efforts regarding the challenges posed by stablecoins in emerging markets and developing countries with high adoption rates.

Additionally, Mr. Bailey recently sounded the alarm in an interview with The Times, warning that global investment banks developing their own stablecoins could weaken credit creation and the management of monetary policy.

Stablecoins are increasingly becoming a priority for regulatory authorities around the world. The U.S. Senate recently passed the bill "GENIUS" regarding stablecoins, and the stablecoin market has reached an all-time high.

| Translation & Editing: Rin Lin | Image: Shutterstock ｜Original: FSB Chair Makes stablecoins a Priority Ahead of G20 Meeting