Crypto Could Have ‘Destabilizing Effect’ on Financial Sector: FSB
The chair of the Financial Stability Board (FSB), a Switzerland-based international body that issues recommendations about the financial sector, is warning that crypto could have a “destabilizing effect across the financial sector” that could “escalate quickly.” In a new report, Klass Knot pressed policymakers to create rules around the digital asset market, stating that “there’s clearly a higher degree of urgency.” Knot and the FSB argue that the crypto market and the wider financial system ar...