❗️ G20 Watchdog Warns of Financial Risks from Growing Crypto Market Turkey must strengthen regulations governing cryptocurrencies and stablecoins to address potential risks to financial stability, the G20 Financial Stability Board (FSB) warned on Wednesday, despite acknowledging "significant progress" in bringing much of the crypto market under regulatory oversight. The sector recorded nearly #036;200 billion in transactions last year, with cryptocurrencies and stablecoins increasingly used by residents seeking protection from levy and high inflation. The FSB has called for established stability regulations, warning that the lack of a framework for issuers is a "fundamental financial concern" and increases the risk to the "digital dollar".

❗️ G20 Watchdog Warns of Financial Risks from Growing Crypto Market Turkey must strengthen regulations governing cryptocurrencies and stablecoins to address potential risks to financial stability, the G20 Financial Stability Board (FSB) warned on Wednesday, despite acknowledging "significant progress" in bringing much of the crypto market under regulatory oversight. The sector recorded nearly #036;200 billion in transactions last year, with cryptocurrencies and stablecoins increasingly used by residents seeking protection from levy and high inflation. The FSB has called for established stability regulations, warning that the lack of a framework for issuers is a "fundamental financial concern" and increases the risk to the "digital dollar".