The FSB Proposes Stricter Rules For Crypto After Finalizing Recommendations

The FSB Proposes Stricter Rules For Crypto After Finalizing Recommendations

The Financial Stability Board (FSB) – a global organization responsible for overseeing and providing guidance on the worldwide financial system, has recently finalized a global regulatory framework for crypto.
The FSB brings together regulators from around two dozen jurisdictions, including the US, EU, China, and the UK, and this framework is intended to provide guidance and promote consistency in the regulation of crypto assets across different jurisdictions.
The Financial Stability Board’s guidelines for regulating crypto assets are based on the principle of “same activity, same risk, same regulation,” and were developed in consultation with the G20 countries, an intergovernmental forum consisting of 19 countries and the European Union.
Related Reading: Altcoins: Expert Warns Investors 2023 To Mirror 2018 Boom-Bust Cycle
The recommendations have been based on the proposal made in October, aiming to prevent the type of behavior companies like FTX and Celsius have been accused

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