LONDON - The Financial Stability Board said on Monday it will propose global rules for cryptocurrencies, saying recent turmoil in markets has highlighted the need to make progress on regulating the sector.

"The FSB will report to the G20 Finance Ministers and Central Bank Governors in October on regulatory and supervisory approaches to stablecoins and other crypto-assets," the FSB, a body of regulators, treasury officials and central bankers from G20 countries, said in a statement.

  - Reuters