Crypto assets market ‘poses threat to global financial stability’

International watchdog highlights stablecoins as particular concern in absence of regulation

The booming crypto assets market could pose a serious threat to financial stability if regulators fail to take action, a global watchdog has said.

The Financial Stability Board (FSB), which monitors financial authorities in 24 countries, is concerned that the scale and structural vulnerabilities of crypto markets - as well as increasing interconnectedness with traditional financial systems - have the potential to cause significant disturbance to the global economy.