Global Regulators to “Vigilantly” Watch Crypto Assets

The Financial Stability Board recently unveiled a framework that seeks to vigilantly monitor risks of crypto assets such as Bitcoin and Ethereum.

The Board, which coordinates financial regulation for the G20, says the framework focuses on how risks brought by the crypto asset markets could affect other parts of the financial system, and how to identify financial stability risks early enough to act on them.

It was pointed out that it is often unclear which financial rules are applicable to the crypto sector or if there is even any legal authority to regulate it.

Source: Reuters