Crypto markets, tokenization and AI remain priorities, says Financial Stability Board ahead of G20

The Financial Stability Board, an international body that monitors the global financial system and puts forth recommendations, stated in a letter to G20 finance ministers that crypto assets, tokenization and artificial intelligence remain priorities.

"Digitalisation is fundamentally changing the way finance works and the way the financial industry is organised," FSB Chair Klaas Knot wrote, adding: "Harnessing the opportunities of digital innovation while containing associated risks is critical for financial stability and prosperity. We will continue to closely monitor the financial stability implications of digital innovations, including in crypto-asset markets, tokenisation, and artificial intelligence (AI)."

Knot also said that the FSB will, per the G20's request, deliver reports on "the financial stability implications of the tokenisation of assets and of AI."

The letter precedes a G20 meeting in Sao Paulo slated for Wednesday and Thursday.

Last year, the FSB and the International Monetary Fund announced a crypto policy roadmap that most notably called for global coordination in crypto policymaking.