Tougher, international regulation for cryptocurrencies could be on the horizon. 🫢
"Cryptoassets, including so-called stablecoins, are fast-evolving. The recent turmoil in cryptoasset markets highlights their intrinsic volatility, structural vulnerabilities and the issue of their increasing interconnectedness with the traditional financial system."
"An effective regulatory framework must ensure that cryptoasset activities posing risks similar to traditional financial activities are subject to the same regulatory outcomes, while taking account of novel features of cryptoassets and harnessing potential benefits of the technology behind them." "Cryptoassets are predominantly used for speculative purposes and many currently remain mostly outside the scope of or in non-compliance with financial safeguards, of which participants of these activities should be fully aware."
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