Japan Pushes Global Counterparts to Regulate Crypto Like Banks
Japan is urging the world’s regulators to treat crypto as strictly as they do banks, adding to the calls for tougher rules following the collapse of Sam Bankman-Fried’s FTX digital-asset exchange.
Japan’s regulator has “begun to urge” counterparts in the US, Europe and elsewhere to subject cryptocurrency exchanges to supervision that’s similar to those faced by banks and brokerages, according to Yanase. The country has been making its voice heard through the Financial Stability Board, an international body that’s working on global regulation of crypto asset activities, he said.
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