The Financial Stability Board (FSB) has issued a warning to the G20 regarding the potential risks posed by cryptocurrencies and stablecoins to global financial stability. In a report submitted to the G20, chaired by South Africa, FSB Chair Andrew Bailey emphasized the importance of addressing issues related to cross-border payments and the growing integration of crypto assets with traditional financial systems. The report highlights that while many jurisdictions are developing regulatory frameworks for crypto assets, these often focus on anti-money laundering rather than financial stability concerns. The FSB cautions that any disruption in the crypto sector could have significant repercussions for the broader financial system.