Cryptocurrency Analysis and News Portal
The Financial Stability Board has released a report highlighting the need for additional regulations in the crypto industry, particularly in the wake of the FTX collapse, to mitigate risks similar to those in traditional finance. The Financial Stability Board (FSB), a pivotal global financial watchdog, has recently spotlighted the need for
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In addition, proof of liabilities is required to determine leverage and the safety of assets, and proof-of-reserve procedures often rely on third-party audit firms that can be manipulated or “may even be created by the trading platform itself,” the note added. And, even if users notice asset-liability mismatches, there is
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The global economy is currently under tremendous pressure, thanks to the fast-spreading COVID-19 pandemic, the OPEC fueled oil price war, global stock markets shock and more. The widespread issues have driven global stock markets, futures and crude oil prices to the ground and spread into the cryptocurrency market as well.Considered
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