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Crews work to remove rubble near destroyed buildings in Borodianka, Ukraine, on April 13.Anastasia Vlasova/Getty Images

The G20′s Financial Stability Board said on Wednesday it is stepping up monitoring of commodity markets after Russia’s invasion of Ukraine triggered large price fluctuations.

“The FSB is intensifying monitoring of current market developments and emerging vulnerabilities, with a particular focus on commodity markets, margining and leverage,” the watchdog said in a letter to the group’s finance ministers and central bank governors meeting on Wednesday.

“Meanwhile, the Russia-Ukraine war has reinforced concerns about the growth and potential use of crypto-assets. The FSB is taking forward work on the regulation and supervision of ‘unbacked’ crypto-assets and ‘stablecoins’.”

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