FSB Warns of 'Cascading Failures' Due to Crypto Regulatory Arbitrage

Crypto firms are exploiting loopholes in fragmented global regulations, threatening financial stability as countries adopt wildly different approaches to policing the $4 trillion digital asset market, the Financial Stability Board warned Thursday. The FSB's review of crypto regulations across nearly 40 jurisdictions revealed "significant gaps and inconsistencies that could pose risks to financial stability and to the development of a resilient digital asset ecosystem," according to the report published Th ...