Crypto Market, A Threat To Global Finance, Claims FSB Officials

While the crypto market remains volatile and uncertain, the Financial Stability Board (FSB) plans to prepare a global regulatory framework. The FSB is responsible for monitoring and giving out standards for the global financial system which is done by institutions like the IMF.

FSB’s Chair, Steven Maijoor states that though the crypto market is seeing a massive growth, the lack of proper regulations and supervisions will pose a threat to global finance. He also believes that crypto activities should be regulated on the basis of the same principles as the traditional market.