FSB warns of rising crypto asset risks

Bank for International Settlements, Basel
Photo: BIS

The Financial Stability Board has warned the rapid rise in the scale and interconnectedness of crypto asset markets could start adversely affecting global financial stability.

In an updated assessment of crypto asset risks, the FSB notes the crypto market’s capitalisation rose 3.5 times in 2021 to reach $2.6 trillion.

This is still only a “small portion” of global financial assets, the FSB’s report says, and crypto’s links to the traditional financial sector remain relatively limited. Bouts of

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