Appropriate Regulation’ Needed Over Crypto, Government Report Recommends

A new report published by government regulators and advisors calls digital assets a potential risk to the stability of the U.S. financial system if their scale or interconnections with the traditional financial system were to grow without adherence to “appropriate regulation.”. The Financial Stability Oversight Council released its 124-page report on digital assets.

In September, the White House released its “Comprehensive Framework” for crypto regulation and development in the United States. The FSOC, created in 2010 with the passage of the Dodd-Frank Act, followed that with the report on “Digital Asset Financial Stability Risks and Regulation.”. U.S. agencies—including the U.S. Department of the Treasury, the Securities and Exchange Commission, and the Commodity Futures Trading Commission—have stepped up their efforts to regulate digital assets over the last year.

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