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Cryptoassets should face bank-style regulation, international standard setter tells G20

By Fiona Maxwell ( October 11, 2022, 08:00 GMT | Insight) -- Cryptoasset providers should be subject to regulatory requirements usually reserved for banks and insurers, such as prudential rules and comprehensive governance measures, the Financial Stability Board said. In policy recommendations delivered to G20 ministers, the FSB proposed that crypto firms and stablecoin issuers face tougher regulation and oversight by supervisors, following on from turmoil in the virtual asset markets.Cryptoassets and stablecoins should be regulated in all major economies in a way that recognizes the risks they pose to financial safety, the Financial Stability Board said today....

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