FTX failure reveals flaws in multifunction crypto-asset intermediaries — FSB

The Monetary Stability Board (FSB) — the worldwide physique that displays the monetary companies trade — launched a report on Nov. 28 claiming the crypto trade may want extra laws to forestall one other disaster on the dimensions of the FTX scandal.

In keeping with the report, the FSB stated the market turmoil that ensued from the collapse of cryptocurrency trade FTX delivered to gentle the failings in multifunction crypto-asset intermediaries (MCIs), that are platforms that mix buying and selling and associated actions.

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