The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system.

FSB warned in February that crypto markets were fast-evolving, could represent a threat to global financial stability. FSB is working to ensure that crypto-assets are subject to robust regulation and supervision.
"Crypto-assets, including so-called stablecoins, are fast-evolving. The recent turmoil in crypto-asset markets highlights their intrinsic volatility, structural vulnerabilities and the issue of their increasing interconnectedness with the traditional financial system," The Financial Stability Board said in a statement.

An effective regulatory framework must ensure that crypto-asset activities posing risks similar to traditional financial activities are subject to the same regulatory outcomes while taking account of new features of crypto-assets and harnessing potential benefits of the technology behind them, FSB added in the statement.

https://coins-gazette.com/post-detail/financial-stability-board-to-propose-crypto-regulations-to-g20-leaders-in-october