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The existing approach, accounting for crypto as so-called indefinite-lived intangible assets, only focuses on the assets dropping in value. According to the board’s proposal, it “does not reflect the underlying economics of those assets and does not provide decision-useful information.” Original Source
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The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to
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The Financial Action Task Force, or FATF, reported its delegates had come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies.In a Feb. 24 publication, the FATF said the plenary for the financial watchdog — consisting of delegates from more than 200
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The Financial Stability Board's recommendations for regulating crypto and stablecoins are set to be released in July 2023. Original Source
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South Africa’s Advertising Regulatory Board (ARB) has included a new clause for the cryptocurrency industry aimed at protecting consumers from unethical advertising.Companies and individuals in South Africa must abide by certain advertising standards pertaining to the provision of cryptocurrency products and services in a new clause introduced to Section III of
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Caroline Pham, the Commodity Futures Trading Commission (CFTC) commissioner, has recently called on regulators to provide clearer guidance on crypto assets in 2023. In an interview with Bloomberg, Pham mentioned that discussions with global players over crypto regulations are ongoing. The government official said many foreign discussions are currently happening about global
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The current turmoil in the crypto markets shows the need for such requirements as soon as possible, the banking chief said. Source
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A global standard for banks' exposure to crypto assets has been endorsed by the Group of Central Bank Governors and Heads of Supervision (GHOS) of the Bank for International Settlements (BIS). The standard, which sets a limit of 2% on crypto reserves among banks, must be implemented on January 1,
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