Financial Stability Board recommends stricter global crypto regulation after year of industry blow-ups

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

• 2023-07-17
• crypto regulations FSB recommendations regulatory framework Financial Stability

EU Regulators Warned: Don’t Ignore DeFi

A trade body for Europe’s wholesale financial markets says that decentralized activities need to be regulated.

• 2023-07-07
• AFME financial stability DeFi European Union crypto regulations Association for Financial Markets technological innovation

Crypto Conglomerates, DeFi Targets of EU Financial Stability Watchdog Concerns

Risks from smart contracts, high leverage and crypto staking and lending may imply a need for new regulations, the European Systemic Risk Board said

• 2023-05-25
• decentralized finance ESRB systemic risk smart contracts financial stability Christine Lagarde digital asset markets conglomerates

Bank of Korea and financial regulator in turf war over who supervises crypto industry

Bank of Korea, the central bank, seems uncomfortable with the Financial Services Commission, the country’s regulator, having the mandate over the cryptocurrency industry. The bank is pushing for more say, arguing crypto can influence the stability of the overall financial market and that involves the central bank.

• 2023-05-15
• South Korea financial authorities Bank of Korea central bank cryptocurrency crypto regulations volatile industry financial stability

Bitcoin Lingers Near $28,000; Binance is Hit With Trading Halt

(Bloomberg) -- Bitcoin traded around the $28,000 mark with concern about financial stability fueling bets that major central banks will need to stop increasing rates amid rising recession anxiety.Most Read from BloombergDeutsche Bank Slumps in Resurgence of European Bank WorriesJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsJack Dorsey’s Block Vows to Fight Back After Hindenburg Says It’s Short the StockThe largest crypt

• 2023-03-24
• Bloomberg financial stability Bitcoin spot trading

Banning Crypto 'Should Not Be Taken Off The Table': IMF

The IMF wants to see more regulation of digital assets, but still says there could even be an outright ban on cryptocurrencies.

• 2023-02-27
• Kristalina Georgieva Bank for International Settlements IMF chief financial stability crypto assets Financial Stability Board digital money

Restrictive Crypto Rules for EU Banks Confirmed in Published Legal Draft

Banks in the European Union would have to treat crypto as the riskiest kind of asset and disclose exposures while awaiting more detailed rules.

• 2023-02-13
• European Commission digital assets crypto assets European Parliament Basel Committee on Banking Supervision financial stability