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Place/Date: - December 15th, 2022 at 7:51 am UTC · 4 min read Source: Snowfall Protocol Crypto markets have been in a depression for several months, with values plummeting across the board. Snowfall Protocol (SNW) is one project that has defied the
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The international monitoring body Financial Stability Board, or FSB, called for a global framework aimed at regulating and supervising crypto in the wake of FTX’s collapse, also saying it would assess vulnerabilities associated with decentralized finance.In a Dec. 6 meeting in Basel, the FSB said it planned to “enhance its
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“Crypto trading platforms, combining multiple activities that are normally separated in traditional finance, can lead to concentrations of risk, conflicts of interest, and a misuse of client assets,” the FSB said, noting it had drawn “preliminary lessons from the recent failure of FTX.” Original Source
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In the wake of FTX’s demise, the Financial Stability Board official urged authorities worldwide to move beyond sectoral boundaries and agree on global norms for the industry. Original Source
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Bitcoin traded above the psychologically important price level for a 10th consecutive day, even as stocks took a hit from U.S. central banks’ ongoing move to tighten monetary conditions. Original Source
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The Bitcoin correlation with the macro markets reached new highs in 2022. This saw the price of the digital asset, and the
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In the past, researchers have often pointed out the danger of stablecoins not being fully backed or being unable to maintain a 1:1 peg to the dollar. The latest report, however, seems more concerned with the risk that one large issuer could have the power to blot out competitors, which
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Cunliffe highlighted the opportunities of using DLT technology for trade and post-trade settlements, which encapsulates all the processes that follow a trade. For instance, DLT allows both equities and debt instruments to be combined in a single ledger and facilitate instant trades. Smart contracts, which are programmable to execute different
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The introduction of a central bank digital currency (CBDC) may increase the stability of a banking system, according to a paper released Tuesday by the United States Treasury Office of Financial Research. This finding counters concerns that a CBDC may encourage runs on weaker banks. According to the July 12 paper,
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Though critics of a central bank digital currency have said it could amplify bank runs, the Office of Financial Research says it may actually help. Source
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