New Development in Cryptocurrency Regulatory Studies in the USA!

According to senior US officials, the Financial Stability Supervision Council (FSOC) cryptocurrency It is preparing to implement the long-awaited regulations for its policy.

US Financial Stability Oversight Council (FSOC) to Report Cryptocurrency-Related Gaps

FSOC, bitcoin and digital assets, and propose ways to close them next month.

According to a memo written by the management, the report will discuss the financial stability risks of digital assets.

In addition, it will identify relevant areas for additional regulations and make recommendations to support financial stability.

In addition to strengthening cooperation in cryptocurrency policy at the federal level, the FSOC also aims for global leadership on digital assets among different international organizations.

In a summary document prepared by the FSOC management, the council seeks to lead digital asset efforts at US institutions as well as international organizations such as the G7 and the Organization for Economic Cooperation and Development.

He also cited FSOC stablecoin concerns and the widespread market decline due to the collapse of one of their popular projects, Terra (Luna), as an important issue for the FSOC to address.

In the FSOC’s fact sheet:

“Stablecoins in particular can have devastating consequences if not used with proper regulation. The collapse of stablecoin TerraUSD in May 2022 and the subsequent ripple that wiped out nearly $600 billion in assets showed once again that the cryptocurrency industry needs regulation.

it was said.

The FSOC published a separate report on stablecoins in December 2021.

It is not yet clear whether the FSOC will ask the US Congress to pass new laws in its new report.

*Not investment advice.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!


source site-4