Cryptocurrency players, banks face scrutiny in global plan to contain risks

16 July 2018 8:52pm
Cryptocurrency exchanges and other market infrastructure may face pressure to shoulder global transparency standards and trading controls as part of a push by financial authorities to come to grips with virtual assets.

Banks also will confront questions about capital requirements on such assets, however small their exposures are now, in another element of the plans set out by global finance officials today.

The Financial Stability Board, which acts as the regulatory coordinating body for the world’s major economies, outlined those efforts as accompaniments to its work of monitoring risks from the likes of Bitcoin and Ethereum.