According to Foresight News, the Financial Stability Board (FSB), which coordinates transnational financial regulation and formulates and implements global financial standards, released the public responses to FSB’s proposed framework for international regulation of crypto-asset activities. Encryption companies such as Binance, Bitso, Coinbase, ConsenSys, and the Cardano Foundation, as well as traditional financial companies such as CBOE, American Bankers Association, and Standard Chartered Bank, provided written opinions. Among them, traditional financial participants hope to adopt stricter new international encryption rules to prevent FTX-style conflicts of interest. The FSB is expected to be released in 2023 The final report will be released in July.
Foresight News previously reported that the FSB will develop steps to regulate the cryptocurrency industry in early 2023 and enact the measures quickly.