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Acta, non verba: Interlinking fast payment systems to enhance cross-border payments

· Klaas Knot, Chair of the Financial Stability Board (International)

Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets

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· Klaas Knot Wiki · Financial Stability Board WikiActa, non verba: Interlinking fast payment systems to enhance cross-border payments

ContextRemarks by the Chair of the Financial Stability Board; the FSB coordinates financial regulation for the G20 and leads its plan for cheaper and faster cross-border payments.

Why it mattersKnot urges linking national instant payment schemes so money moves abroad faster and cheaper.

Problems raised
  1. Cross-border payments are slow and costly.
  2. Some regions lag far behind.
  3. Anti-money laundering rules create friction.
Solutions proposed
  1. Interlink national fast payment systems.
  2. Strengthen FATF guidance on AML/CFT.
  3. Build regional action plans.
Read full speech on fsb.org ↗

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