FSB says stablecoin crisis frameworks remain unfinished three years after recommendations
- —Only 11 of 28 jurisdictions have completed stablecoin regulatory frameworks
- —The FSB's 2023 recommendations are non-binding and carry no deadline
- —99% of the stablecoin market is pegged to the US dollar
- —Market cap grew to $306 billion from $206 billion in early 2025
Why it matters: Without coordinated rules, stablecoin holders have no clarity on which jurisdiction would handle redemptions if a major issuer failed.
Source: Cryptonaute
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