Thread by @UtilityTheory

Came across an interesting document from the
Financial Stability Board in 2019

Pay attention to the FSB if you are involved with crypto as they are an important Standard Setting Body (SSB)

-Thread on the slides-
#Crypto #DLT #Fintech #FSB #Innovation #Banking #Regulations #XRP

1. 1st picture they were working on creating Stablecoin regulation in 2020 and monitoring crypto assets.

• 2nd picture is from my video showing the G7 supports the work of the FSB and other SSBs ‼️

#G7 Video on #Digitalization, #CBDCs & Crypto Reg.

2. Crypto Assets, Stablecoins and CBDC's
Mentions:
#BTC
#ETH
#XRP
#LTC
#EOS

#Crypto #Blockchain #Fintech #regtech #FSB #DLT

3. FSB Work on Crypto Assets & Stablecoins:
• Issues notes to #G7 & #G20
• Create regulatory framework for crypto assets & stablecoins

They are going to regulate the crypto markets to the same standards of the traditional monetary system.
#Crypto #Regulation #DLT #regtech

4. A Visualization of Global Stablecoins

5. Current Shortcomings in Cross-Border Retail Payments:

• Decreasing correspondent banks,
• Increasing global remittance volumes
• High cross border fees between 6-8%

Compare the slow outdated bank wire vs #DLT
#payments #fintech #DLT #banking #broken #slow #crypto

6. Big tech in payments could achieve global adoption

• Facebook
• Google
• Ripple ;)

#bigtech #bigdata #DLT #payments #Mojaloop #ILP #XRP #technology #innovation #fintech #blockchain #crypto

7. Adopt a Holistic Approach

• Harmonize regulation across global jurisdictions
• AML = Anti Money Laundering
• Monetary Policy (Global Leader --> IMF?)

8. Consider Transmission Channels:

• Payment, Clearing, and Settlement
• Wealth Effects
• Confidence Effects
• Microfinancial Impacts
• Exposures of Financial Institutions

9. Decentralised Financial Technology

• Report to G20 Meetings
• Decentralisation (Decision making, risk-taking, record-keeping)
• Exemplar technologies (DLT, P2P)
• Effect on financial services
(Trade Finance, Capital Markets & Lending)

#DLT #Crypto #Banking #fintech

10. Cloud Services: Say Whaaaaat?

The start of using the cloud to save money.

#FSB #CloudServices

11. Cloud Services Risks:
• Operational (data breaches & structure etc)
• Legal
• Concentration (Centralization Risks)

#cloud #cloudcomputing #FSB #TechnologyNews

12. I hope you enjoyed my research thread of the document.

If you would like to view the full PDF here it is:

amf.org.ae/sites/default/…

If you like 4IR research follow me at @UtilityTheory
#FSB #Crypto #regulation #DLT #Fintech #innovation #Research #CotF #4IR #cryptocurrency

13. If you haven't really done much research into Standard Setting Bodies and interested in the regulated side of global markets.

Check out my free research sections in the free LightHouse research report August & Sept editions.

14. Here is one last bonus research project to help you citizens see the top.

I collaborated with the researcher @XX_1133_1221_11 to put this map together of global standard setting bodies and monetary entities.

#blockchain #crypto #entities #finance

15. If you got something from this, please support my research by retweeting the first tweet below.⏬

Otherwise my regulated boring content gets buried by the Twitter algo, as my content isn't hype based.

Thank you,

Citizen (A researcher of the future)

https://twitter.com/UtilityTheory/status/1569109353483087872?s=20&t=VjwhdpfI8lEiAKwS4eHalQ