FSB: Multifunction Crypto Firms Collapse Poses Limited Threat to Real Economy
Main page News, Regulations, Cryptocurrency
Hot topic
Nov. 29, 2023

According to the Financial Stability Board (FSB), the collapse of multifunction crypto firms poses a limited threat to the real economy.

According to the institution's analysts, more assessments of the potential impact of the bankruptcies of such organizations are needed due to "significant information gaps," which requires greater cross-border cooperation between regulators.

The FSB published in July a set of recommendations for a global regulatory framework for digital assets.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

The experts announced at that time the initiation of a study of the activities of multifunction crypto-asset intermediaries (MCIs), individual organizations or a group of affiliated companies that bring together a wide variety of services and products generally associated with activities as a trading platform.

According to the document, Binance, Coinbase, Bitfinex and FTX meet these criteria.

The institution said that ICMs are more susceptible to collapse than ordinary crypto companies.

Read also:
Please describe the error
Close