Bitcoin cryptocurrency FTX regulation FTX collapse prompts the Financial Stability Board to focus on crypto regulation
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According to the FSB, “the outlook for financial stability remains challenging,” especially due to the “record high levels of debt across non-financial sectors, including rising debt servicing costs as maturing debt is refinanced at higher rates.” This led the board to emphasize the importance of establishing a global framework of regulation and supervision of the crypto industry.
Turning to cryptos in emerging markets and developing economies , the FSB noted that “the trend towards digitalization of financial services continues apace, particularly in EMDEs.”
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