{"id":87604,"date":"2023-11-28T16:07:47","date_gmt":"2023-11-28T14:07:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87604"},"modified":"2025-09-13T12:54:28","modified_gmt":"2025-09-13T09:54:28","slug":"fsb-sees-limited-risks-from-collapse-of-crypto-holdings","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fsb-sees-limited-risks-from-collapse-of-crypto-holdings\/","title":{"rendered":"FSB sees &#8216;limited&#8217; risks from collapse of crypto-holdings"},"content":{"rendered":"<p>The collapse of crypto firms with diverse lines of business poses a limited threat to the real economy. This conclusion was reached by the Financial Stability Board (FSB) of the G20.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Multifunction crypto-asset intermediaries (MCIs) are a critical component of the <a href=\"https:\/\/twitter.com\/hashtag\/cryptoasset?src=hash&#038;ref_src=twsrc%5Etfw\">#cryptoasset<\/a> ecosystem as their business models have expanded and continue to evolve. Our report looks at MCI vulnerabilities and risks they may pose to <a href=\"https:\/\/twitter.com\/hashtag\/FinancialStability?src=hash&#038;ref_src=twsrc%5Etfw\">#FinancialStability<\/a><br \/>? <a href=\"https:\/\/t.co\/iA9O6X2lBs\">https:\/\/t.co\/iA9O6X2lBs<\/a> <a href=\"https:\/\/t.co\/s8ESzJmMEn\">pic.twitter.com\/s8ESzJmMEn<\/a><\/p>\n<p>\u2014 The FSB (@FinStbBoard) <a href=\"https:\/\/twitter.com\/FinStbBoard\/status\/1729474492026532184?ref_src=twsrc%5Etfw\">November 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts of the advisory body pointed to the need for further assessments of potential bankruptcy consequences of such organisations given significant data gaps. The latter require expanding cross-border cooperation among regulators.<\/p>\n<p>In July, the FSB<a href=\"https:\/\/forklog.com\/en\/news\/imf-and-fsb-publish-recommendations-on-crypto-asset-regulation\"> developed recommendations<\/a> for a global regulatory framework for digital assets.<\/p>\n<p>At that time, experts announced the start of studying the activities of multifunction crypto-asset intermediaries (MCIs) \u2014 standalone organisations or groups of affiliated firms that bring together a wide range of services and products, typically connected with operating as a trading platform.<\/p>\n<p>In the document, these criteria apply to Binance, Coinbase, Bitfinex and FTX prior to its <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">collapse<\/a>.<\/p>\n<p>According to the FSB, MCIs are more exposed to collapses than ordinary crypto firms. The mitigation of the latest fallout depends on the quality of the implementation of global regulation in the digital assets space, the report says.<\/p>\n<p>Experts concluded that the vulnerabilities of crypto-holdings and <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span> do not differ much. But the risks of the former increase if they operate as a dealer, market maker or lending platform.<\/p>\n<p>The FSB said there is a need to assess whether MCI disclosure and reporting requirements are being properly observed, or whether additional measures are required.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cBringing together functions that are typically constrained or separated for TradFi may, at first glance, appear incompatible with the principles of conduct, risk and regulation,\u201d<\/em> the report says.<\/p>\n<\/blockquote>\n<p>In September, G20 member countries <a href=\"https:\/\/forklog.com\/en\/news\/g20-backs-fsb-and-imf-recommendations-on-crypto-asset-regulation\">approved<\/a> the recommendations by the FSB and <span data-descr=\"International Monetary Fund\" class=\"old_tooltip\">IMF<\/span> on the supervision and control of digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The collapse of crypto firms focused on diverse lines of business poses a limited threat to the real economy. This conclusion was reached by the Financial Stability Board (FSB) of the G20. Multifunction crypto-asset intermediaries (MCIs) are a critical component of the #cryptoasset ecosystem as their business models have expanded and continue to evolve. Our report looks at MCI vulnerabilities and risks they may pose to &#8230;<\/p>\n","protected":false},"author":1,"featured_media":87605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1166,1324,36],"class_list":["post-87604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-centralized-exchanges-cex","tag-g20","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=87604"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87604\/revisions"}],"predecessor-version":[{"id":87606,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87604\/revisions\/87606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/87605"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=87604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=87604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=87604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}