Finance › Speeches › Klaas Knot

Remarks by Klaas Knot at the 93rd G30 Plenary

· 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, growth, investment and productivity

KK
· Klaas Knot Wiki · Financial Stability Board WikiRemarks by Klaas Knot at the 93rd G30 Plenary

ContextRemarks at the 93rd plenary of the Group of Thirty, a forum of senior financiers and academics; the FSB coordinates financial regulation for the G20 and watches risks outside the banking sector.

Why it mattersThe FSB chair warns that stablecoins could bring hidden risks into the core of the financial system.

Problems raised
  1. Financial innovation can outpace regulation.
  2. Stablecoins may exploit gaps in oversight.
  3. Hidden risks can enter the core financial system.
Solutions proposed
  1. Apply the principle of same activity, same risk, same regulation.
  2. Close regulatory gaps for stablecoins and crypto-assets.
  3. Coordinate regulation across jurisdictions.
Read full speech on fsb.org ↗

More from Klaas Knot · Financial Stability Board · all speeches

More speeches by Klaas Knot

Other leaders on payments, digital money and crypto-assets