The Financial Stability Board (FSB), a global watchdog encompassing regulators, central banks, and treasury officials from G20 economies, has issued a stern warning about the potential destabilization of the broader financial system due to blow-ups at complex crypto firms like FTX. Meanwhile, in a report released on Tuesday, the FSB highlights the vulnerabilities inherent in “multifunction” crypto firms, emphasizing the need for additional measures to prevent their tumultuous impact on the global financial landscape.
FSB Warns Against FTX-Like Crypto Risks, Urges Global Safeguards
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