Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, has reportedly vowed to address the evolving threats from private finance and the growing use of stablecoins.

Global Watchdog Plans Surveillance Overhaul

On Monday, Bank of England (BoE) Governor and FSB Chairman Andrew Bailey promised to increase the global watchdog’s policy response to the emerging risks related to the private finance sector and stablecoins.

According to Bloomberg, Bailey pledged to overhaul the FSB’s surveillance in a letter delivered ahead of this week’s Group of 20 (G20) meetings, seeking to make it “more flexible and quicker to recognise, and respond to, emerging vulnerabilities.”

“Whether it is the rise of private finance, the impli

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