A video of the speech is also available here.

One area of focus is "harnessing the benefits of digital innovation while containing its risks." The FSB will take forward implementation of its global regulatory and supervisory framework for cryptoasset activities and continue to monitor the financial stability implications of other digital innovations, including tokenisation and artificial intelligence.

Other priority areas of work include:

• Supporting global cooperation on financial stability
• Completing resolution reforms
• Enhancing the resilience of non-bank financial intermediation (NBFI)
• Enhancing cross-border payments
• Enhancing cyber and operational resilience
• Addressing financial risks from climate change

The priorities for the FSB’s work include: (i) enhancing the resilience of the non-bank financial intermediation sector; (ii) advancing work on the global regulatory and supervisory framework for cryptoasset markets and activities; (iii) addressing financial risks from climate change; (iv) enhancing cross-border payments; (v) strengthening cyber and operational resilience; and (vi) financial innovation. The finalised work programme will be published in early 2024.

The report, which was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Marrakesh, Morrocco, provides an overview of the FSB’s work to assess and address current and emerging vulnerabilities including:

• The finalisation of a global regulatory framework for cryptoassets, including stablecoins
• Work to address systemic risk in non-bank financial intermediation
• The development of a global standard for financial resources and tools to support resolution of systemically important central counterparties
• Work under the FSB Roadmap for Addressing Climate-related Financial Risks, including promotion of the timely and wide use of global sustainability disclosure standards
• Work to achieve greater convergence in cyber incident reporting and the development of a policy toolkit for authorities, financial institutions and service providers for their third-party risk management and oversight
• Work to enhance cross-border payments through practical projects, including strengthened partnerships with the private sector.

The paper examines the key risks to macroeconomic stability, financial stability, and other areas (such as legal, financial integrity and market integrity related risks), posed by cryptoasset activities.

It then presents policy responses to these risks in the areas of:

• macro-financial policies;
• financial stability regulation; and
• other policies and regulation.

The paper concludes with an implementation roadmap. The roadmap includes planned and ongoing work related to the implementation of cryptoasset policy frameworks, which taken together seek to: build institutional capacity beyond G20 jurisdictions; enhance global coordination, cooperation, and information sharing; and address data gaps necessary to understand the rapidly changing cryptoasset ecosystem.

The paper does not establish new policies, recommendations or expectations for relevant member authorities.