Key Points
The Financial Stability Board Monday proposed global rules for crypto firms mandating introduction of safeguards to prevent casualties such as exchange collapse...
The FSB published the final proposals requested by the G20 on supervising firms that trade cryptoassets such as bitcoin...
The proposed rules are expected to figure in discussions at the ongoing G20 finance ministers and central bank governors meeting here.. "As recent events have illustrated, if linkages to traditional finance were to grow further, spillovers from cryptoasset markets into the broader financial system could increase," the FSB said...
In October 2022, the FSB published a proposed framework for the international regulation of crypto-asset activities, in the form of two separate sets of recommendations, for a public consultation that ran until 15 December 2022...
"In light of events of the past year, the FSB has strengthened both sets of high-level recommendations in three areas: (i) ensuring adequate safeguarding of client assets; (ii) addressing risks associated with conflicts of interest; and (iii) strengthening cross-border cooperation," it said in a statement..
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