Financial Stability Board urges regulators for more vigilance in crypto sphere

Financial Stability Board urges regulators for more vigilance in crypto sphere

Most read

Loading Most Ready posts..


Share link:


According to the latest report, Financial Stability Board (FSB); G20’s international monitor, in its recently released report stated that regulators must have to upgrade their risk evaluation strategies regarding financial dealings in the crypto industry.

The report stated that FSB does not consider cryptocurrency to be posing any ‘material stability risk’ to the financial world. Moreover, current regulations regarding the digital currency are irregular, and the fast pace of technological innovation can create a vacuum, thereby, causing more uncertainty regarding the regulations.

Due to varying standards between states regarding the digital assets, digital currency assets do not fall under the jurisdiction of regulators. To compound the problem further, the rate of technological innovation is too fast for regulations to keep pace with.

As China’s attitude towards cryptocurrency exchanges is basically near- total-ban, whereas, Japan is making efforts to legalize the digital exchanges with proper licensing.

Reportedly, the G20 summit in June will be hosted by Japan in Osaka and discussions regarding the crypto regulations are likely to take place.

Share link:

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

Stay on top of crypto news, get daily updates in your inbox

Related News

Subscribe to CryptoPolitan