Regulation

Crypto and pension fund crises top concerns for global watchdog

A letter from the FSB to the G20 says the developments of the last year show financial stability cannot be taken for granted

'The crypto market turmoil underlines that crypto-assets activities and markets must be subject to effective regulation and oversight commensurate to the risks they pose'
'The crypto market turmoil underlines that crypto-assets activities and markets must be subject to effective regulation and oversight commensurate to the risks they pose' Photo: Getty Images

Crypto and pension fund crises are major concerns for the world's top financial watchdog, as it expresses fears over the stability of the financial system.

In a letter to G20 leaders ahead of their meeting in Bali next week, Financial Stability Board chair Klaas Knot said “current conditions are unprecedented in a number of respects, and we need to be attentive to existing and potential new financial vulnerabilities.”

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