Time to ready global response to crypto risks, regulators say

Published by
Reuters UK

By Huw Jones and Tom Wilson LONDON (Reuters) – Risks from the $2.6 trillion crypto market could grow quickly and regulators need pre-prepared measures to bring the sector to heel, the Financial Stability Board (FSB), a risk monitoring watchdog for the G20 economies, said on Wednesday. While cryptoassets like bitcoin remain a small part of the financial system, data gaps make it difficult to assess their full use and many investors don’t fully understand what they are buying, the FSB said. Traditional finance such as big banks and hedge funds are also becoming more involved, along with derivati…

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