The Financial Stability Board (FSB) is calling for greater cooperation among national regulatory bodies in the regulation of cryptocurrencies. Specifically, the FSB is recommending cross-border collaboration in the supervision of multifunction crypto-asset intermediaries (MCIs), which are firms that combine a range of crypto services and products. While these MCIs are critical to the crypto ecosystem, they also pose risks and vulnerabilities that could impact global financial stability. The FSB highlights the collapse of crypto-friendly banks as an example of how interconnectedness can lead to risks. The FSB emphasizes the need for a global approach to regulatory enforcement in the crypto-asset markets. This report follows the FSB’s previous report on the risks of decentralized finance (DeFi) and the release of a global regulatory framework for crypto.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	CZ
Companies	Financial Stability Board (FSB), Binance, X, Binance.US, FTX
Currencies	FintruX
Securities	None