According to Odaily Planet Daily, the Financial Stability Board (FSB), which is responsible for monitoring systemic risks in the global financial system, said it would further study the challenges that stablecoins bring to emerging and developing economies. The FSB has been one of the main makers of global crypto policies. Last year, the FSB and the International Monetary Fund jointly drafted a joint policy paper on cryptocurrencies, warning against a blanket ban to mitigate risks associated with the industry. At last week's meeting, FSB members discussed areas in the crypto industry that "deserve further attention."