Crypto firms to face tighter rules, G20’s FSB announces
- Asia First
- Jul 18, 2023
- 1 min read

Following widespread instability in the cryptocurrency sector, including the collapse of the FTX exchange, the G20's Financial Stability Board (FSB) published rules to tighten crypto firm regulations. The new safeguards aim to prevent further financial disruptions by emphasizing robust governance, conflict of interest avoidance, risk management, and customer-company cash segregation. The FSB called for global compliance with these rules, even in non-member countries. Secretary General John Schindler noted that the framework clarifies regulatory standards, reducing ambiguities for crypto players. The FSB's “global baseline” is intended to accommodate jurisdictions seeking stricter rules, and additional regulatory measures are anticipated from the Basel Committee and IOSCO. A review of the guidelines' implementation will be conducted by the FSB by the end of 2025.