New crypto asset database needed to better understand risks - Canada’s Lane

Bank of Canada facade

One of the deputy governors of the Bank of Canada has said there is a need to create a system to classify new crypto assets in order to create regulation that is appropriate for the sector.

“Data and a consistent means of collecting them are required to assess emerging risks,” said Timothy Lane on October 1 in Alberta, Canada.

Echoing policymakers around the world, Lane said new crypto products have the potential to foster competition in financial markets and increase financial inclusion.

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