G20 financial watchdog needs to show teeth on crypto

Published by
City AM

By Darren Parkin This week, the G20’s Financial Stability Board (FSB) set out an unprecedented, robust approach on digital currencies, saying that globally agreed rules leave crypto firms with no choice but to introduce basic safeguards. Citing the collapse of FTX and the demise of TerraUSD/Luna coins last year as a basis for ramping up their stance, the FSB’s final recommendations call for “consistent and comprehensive” regulation of the crypto market. “As recent events have illustrated, if linkages to traditional finance were to grow further, spillovers from crypto asset markets into the bro…

Read More