- The Financial Stability Board (FSB) calls for stricter regulations in response to misconduct and volatility in the crypto industry.
- The FSB’s recommendations aim to establish an impartial regulatory framework emphasizing underlying risks.
- FSB has collaborated with international organizations to ensure coordinated monitoring of crypto-asset markets.
The whole of 2022 and early 2023 has featured some turbulent times for the crypto industry, which has been classified as a “potential threat to the wider financial system” by the Financial Stability Board (FSB) in its latest report published earlier today. Hence, the international finance watchdog has urged for more stringent regulations to protect the clients’ crypto assets and prevent conflicts of interest in response to numerous reports of misconduct that surfaced amidst the volatile year for cryptocurrencies.
FSB, comprising regulators from various jurisdictions such as the US, EU, China, and the UK, revealed that the published recommendations had been developed based on input gathered from public consultations and engagements with stakeholders. These suggestions strive to establish a regulatory framework…
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The post Global Watchdog Proposes Impartial Regulatory Framework for Crypto appeared first on Coin Edition.