European Securities and Markets Authority Blames Crypto For Financial Instability

European Securities and Markets Authority (ESMA) in a paper on Tuesday warned investors that crypto assets are highly risky and may bring financial instability in the future. The ESMA asserts growing links between crypto and traditional markets need increased monitoring and regulatory oversight. The paper shows how European Union officials...

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Stablecoins Add ‘Novel Vulnerabilities’ to Crypto, Financial Stability: Bank of New York

The rapid growth of the decentralized finance (DeFi) sector is fraught with several challenges, including run risks among major stablecoins, according to a new report by the Federal Reserve Bank of New York.Titled “The Financial Stability Implications of Digital Assets,” the report provides an overview of stablecoins as part of...

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Provenance Blockchain Foundation Appoints Financial Services and Marketing Veteran Dan Garzia as Chief Marketing Officer

Garzia Brings Significant Marketing, Financial Services, and Blockchain Expertise to Provenance SAN FRANCISCO, Oct. 4, 2022 /PRNewswire/ -- Provenance Blockchain Foundation, a leading organization focused on enabling financial services firms to adopt blockchain solutions and reimagine how their businesses operate, is delighted to announce the appointment of Dan Garzia as its...

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Financial Stability Council recommends crypto spot market regulator, stablecoin legislation – Ledger Insights

Yesterday the U.S. Financial Stability Oversight Council (FSOC) published a report on Digital Asset Financial Stability Risks and Regulation. It identified three regulatory gaps and made several recommendations.  The first issue is that cryptocurrencies not classified as securities lack a direct regulator. Hence it proposes that Congress enact legislation to close that...

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Crypto Could Threaten Financial System, Federal Risk Panel Warns

WASHINGTON—Risks tied to cryptocurrencies could grow rapidly and eventually threaten the broader financial system, a panel of senior U.S. officials warned Monday, calling for tougher oversight of digital assets.The Financial Stability Oversight Council, chaired by Treasury Secretary Janet Yellen, ...

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Top US regulators say crypto poses financial stability risks

WASHINGTON (AP) — Top regulators on Monday recommended a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn’t imperil U.S. financial stability.Among seven major recommendations, regulators called on Congress to pass legislation that would address the systemic risks caused by the growth of stablecoins, which...

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DMG Blockchain and the debut of decentralized financial market infrastructure

DMG Blockchain (TSXV:DMGI) has been onboarded onto and is now actively trading on the Bosonic Network, a decentralized alternative to traditional crypto-markets. Bosonic uses decentralized financial market infrastructure (dFMI) technology to help DMG and other companies exchange bitcoin to fiat currency at a lower cost than with traditional exchanges. DMG has...

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Matt Homer, Cryptocurrency Investment Leader and Former Executive Deputy Superintendent of the Research and Innovation Division at the New York Department of Financial Services, Becomes Senior Advisor to Tusk Strategies’ Crypto + FinTech Practice

NEW YORK--(BUSINESS WIRE)--Building off a decade of guiding the world's fastest-growing start-ups through major regulatory, communications and public affairs challenges, Tusk Strategies today welcomed Matt Homer as Senior Advisor to its expanding Cryptocurrency + FinTech Practice. Matt will advise on the rapidly...

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UK financial credibility ‘still damaged’ despite 45p tax rate U-turn; factory downturn continues – business live | Business

UK credibility 'still damaged' despite 45p tax rate U-turnChancellor Kwasi Kwarteng’s U-turn on the 45p tax rate does little to quell investor concerns about the UK, traders and economists say.With sterling losing some of its earlier surge, William Marsters of Saxo UK, warns that the government’s credibility is still damaged:...

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