The chairman of the FSB said existing stablecoins could not meet future global standards

BlockBeats, February 20, according to coindesk, Financial Stability Board (FSB) Chairman Klaas Knot said that the FSB's upcoming guidance is aimed at strengthening the governance framework, redemption and stabilization mechanisms for Stablecoins. According to Klaas Knot, many existing stablecoins do not meet upcoming international specifications. The FSB said last week that it would work with other standard-setting bodies to determine how DeFi should be regulated, and that it planned to work with the International Monetary Fund on a paper on regulatory issues related to cryptocurrencies.