What is the US government doing to regulate crypto?
In the U. S., regulators have spent recent weeks issuing their own series of reports – requested by President Joe Biden – outlining how they intend to approach crypto. The Financial Stability Oversight Council this week cited the urgent need for stablecoin oversight and a regulator for non-security tokens like bitcoin (BTC).
Could next week be a turning point in global crypto regulation?
Next week could prove a turning point in the global regulation of crypto finance – and ministers from the world’s 20 biggest economies will potentially confront the system change posed by decentralized finance (DeFi).
How will existing crypto laws affect stablecoins?
Existing crypto laws largely extend existing financial rules, under the mantra of “same activity, same risk, same regulation.” That means stablecoin issuers have to prudently manage assets, and crypto wallet providers check the identity of their customers, just as banks must.
What is the FSB doing at the G20 on crypto?
The FSB has an influential role in setting international norms – it wrote the current rulebook for financial markets in the wake of the 2008 financial crisis. Back in July it set out its crypto agenda, in the form of two consultations which it wants to present to G20 finance ministers ahead of a meeting next Wednesday and Thursday in Washington.