The FSB, which monitors financial systems and proposes rules to help prevent financial crises, said it was assessing the financial stability implications of multifunction crypto-asset intermediaries (MCIs) in July. MCIs are individual firms or groups of affiliated firms that combine a broad range of services, products and functions typically centered around the operation of a trading platform, according to the FSB. This could apply to numerous crypto heavyweights, like Coinbase or Binance.
Source: https://www.coindesk.com/policy/2023/11/28/failure-of-multi-function-crypto-firms-a-limited-threat-to-real-economy-fsb/?utm_medium=referral&utm_source=rss&utm_campaign=headlines