Regulators need to step up risk assessments of the cryptocurrency sector as curr...
LONDON - Regulators need to step up risk assessments of the cryptocurrency sector as current rules are patchy, and quick technological change may lead to gaps in policies on digital money, the global financial stability watchdog said.
An assessment of banks’ and other financial firms’ exposure to digital money was one potential tool, the FSB said, adding that digital coins did not currently present a material stability risk. The Switzerland-based FSB said crypto-assets - a term that includes bitcoin and No.2 digital coin ethereum - at times fall outside the scope of market or payments watchdogs, partly because of the lack of global standards.
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