Financial Stability Board Expands Distributed Ledger Research

An international body of regulators and government officials created in the wake of the 2008 financial panic is expanding its work on blockchain.

AccessTimeIconNov 3, 2016 at 7:23 p.m. UTC
Updated Sep 11, 2021 at 12:35 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

An international body of regulators and government officials created in the wake of the 2008 financial panic is expanding its work on blockchain.

Since as early as last year, the Financial Stability Board has been researching the tech and its impact on the global financial system. The most recent update from the group was in July, when it said it was exploring “possible steps to address potential risks” related to digital currencies.

In a 3rd November speech at the Chatham House Banking Revolution Conference, FSB secretary general Svein Andresen suggested that the organization was beginning to move toward making policy recommendations related to the technology.

He told attendees:

“We have considered the financial stability implications of distributed ledger technology, and we continue to work in this area, jointly with Committee on Payments and Market Infrastructures, to identify key issues that market participants and policymakers need to address.

Andresen went on to say that the FSB was working alongside the Basel Committee on Banking Supervision, a body within the Bank of International Settlements (BIS), on similar issues.

“This has covered members’ experimentation with distributed ledger technology and what they have learned, as well as experiences with innovation facilitators – sandboxes, hubs, and accelerators,” he remarked.

Andresen’s speech focused in part on fintech more broadly, suggesting that any policy recommendations from the FSB will likely be within that context. He gave no indication as to when the FSB might move to begin releasing the results of its work.

Image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.