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FSB Urges G20 for Cross-Border Stablecoin Planning
The Financial Stability Board (FSB) has urged the G20 policymakers to prepare for potential crises involving cross-border stablecoins. The FSB highlighted the risks associated with stablecoins, including the need for stronger safeguards and cross-border information sharing. The FSB also warned about the potential for weak cross-border oversight and crisis-response systems to leave banks and traditional markets vulnerable to a stablecoin run. The FSB's recommendations aim to address the growing concerns about the impact of stablecoins on financial stability and cross-border financial systems.