Implementation of Global Regulatory Framework for Cryptoassets

This document is an executive summary detailing the implementation of the Financial Stability Board's (FSB) global regulatory framework for cryptoassets and stablecoins. It outlines the framework's high-level recommendations for cryptoasset activities and global stablecoin arrangements, emphasizing the principle of 'same activity, same risk, same regulation.' The summary discusses the progress made by various jurisdictions in implementing these recommendations, highlighting significant gaps and inconsistencies that pose risks to financial stability. It notes that as of August 2025, only 11 jurisdictions had finalized comprehensive regulatory frameworks for cryptoasset activities, while only five had done so for stablecoins. The document also addresses challenges in data reporting, cross-border cooperation, and the need for tailored regulatory frameworks for stablecoins. Furthermore, it presents eight recommendations aimed at improving the implementation of the FSB Crypto Framework, enhancing regulatory oversight, and facilitating effective cross-border cooperation.