TechFlow reports that the global regulatory body FSB has called for additional measures to prevent negative impacts on financial system stability from the collapse of crypto firms.
The report highlights that multi-functional crypto companies like FTX could increase the vulnerability of the financial system, emphasizing insufficient controls, transparency, and disclosure of interests.
The FSB recommends that regulators strengthen cross-border cooperation and information sharing to address risks that cryptocurrencies may amplify within the financial system.
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