US financial experts call for tighter regulation of digital assets
06 December 2019 - 4:00AM
Coin Rivet
The annual report for 2019 from the US Financial Stability
Oversight Council (FSOC) has called for tighter regulations on
stablecoins and digital assets. To stay ahead of developments in
the crypto markets, the FSOC formed a digital asset and distributed
ledger technology working group in 2017. The council periodically
reviews new developments in blockchain technology and assesses
their risk to the US economy. Established in the aftermath of the
2008 financial crisis, the FSOC identifies and makes
recommendations on financial risks which could undermine the US
banking sector. As part of its latest annual report, the council
has now identified digital assets and stablecoins as major areas
for concern, urging closer scrutiny of existing laws and a review
of new
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