He also published two sets of specific recommendations – one to supervise the cryptography sector, and one for global stables – by emphasizing the custody against the risks of financial stability.
Now the FSB examines how efforts to adopt its high -level recommendations take place at a practical level.
“The peer review will take stock of the progress made … when the Crypto FSB framework is implemented, including by applying existing frames, by making rules to fill the gaps, by leading the Surveillance and / or by taking implementation measures, “he said in a notice detailing the planned exam.
To this end, the FSB examines the regulators on their experiences and, as part of this review, this also calls the comments of the industry on the way in which emerging regulations in this area work from their point of view.
For example, the FSB is looking for an overview of how regulations in different jurisdictions have affected when companies decide to function and how they structure their businesses. He also wants to hear about the challenges that cryptographic companies face to meet regulatory requirements.
In addition, the consultation is trying to collect information on the potential financial risks of financial stability posed by specific practices in the cryptography sector, how these risks vary according to the courts and how these risks evolve as the regulations are developed.
The deadline to provide comments is March 28. The FSB intends to publish a report on the results of the journal in October.
“Based on the range of the experiences of the courts, the report can identify the areas where the members are faced with common challenges in the implementation of the FSB crypto framework, documents of documents that have proven to be effective, Including by using case studies and making recommendations (if applicable) to meet current challenges, “he said.
