On 28 November 2023, the Financial Stability Board (FSB) published a report on the financial stability implications of multifunction crypto-asset intermediaries (MCIs).
The report defines MCIs as individual firms, or groups of affiliated firms, that combine a broad range of crypto-asset services, products and functions typically centred around the operation of
On 17 October 2023, the Basel Committee on Banking Supervision (Basel Committee) published a consultation document on the disclosure of crypto-asset exposures.
The consultation document follows the Basel Committee’s paper on the prudential treatment of cryptoasset exposures which was published in December 2022 and set out the prudential requirements for banks’ exposures to
On 7 September 2023, the Financial Stability Board (FSB) and the International Monetary Fund (IMF) published a joint synthesis paper on policies for crypto-assets.
The report synthesises the IMF’s and FSB’s policy recommendations and standards. The report illustrates macroeconomic and financial stability implications of crypto-asset activities, how they may interact, and
On 17 July 2023, the Financial Stability Board (FSB) announced that it has finalised the global regulatory framework for crypto-asset activities by publishing two distinct sets of recommendations. Both sets of recommendations are addressed to financial regulatory, supervisory and oversight authorities.
On 11 July 2023, the Bank for International Settlements (BIS) published a report on the crypto ecosystem: key elements and risks.
The report reviews the key elements of the crypto ecosystem and assesses its structural flaws. It also discusses the risks that it poses and the options for addressing them. It also identifies
On October 3, 2022, the US Securities Exchange Commission (“SEC”) announced that it charged Kim Kardashian for failing to disclose her interest in the promotion of a crypto asset on social media, resulting in a settlement of USD 1.26 million. In its brief decision, the SEC explained that Ms. Kardashian failed to
Regardless of your position on whether cryptocurrency is a legitimate method of payment, you can’t deny its permeation into mainstream society recently. From donations to Ottawa “freedom” protests[1] to countries approving bitcoin as legal tender,[2] the use of cryptocurrency is emerging beyond the dark web.
But with use comes misuse. In 2021, there
Que l’on croit ou non qu’elle constitue un mode de paiement légitime, on ne peut nier que la cryptomonnaie s’insinue récemment dans la société en général. En effet, qu’elle serve à des dons pour les « manifestations pour la liberté » à Ottawa[1] ou encore que des pays approuvent le bitcoin en tant que
Once a far-off concept, digital assets, including cryptocurrency, have grown dramatically, achieving over US$3 trillion in value last November with no signs of slowing. Extraterritorial application of foreign laws is an emerging concern as cryptocurrency regulations take shape in other countries, notably the United States. While cryptocurrency regulations have yet to develop in Canada, Canadian
Autrefois un concept obscur, les actifs numériques, dont les cryptomonnaies, ont connu une croissance spectaculaire, réalisant une valeur de plus de 3 T$ US en novembre dernier sans le moindre signe de ralentissement. L’application extraterritoriale des lois étrangères est une préoccupation émergente alors que des règlements sur les cryptomonnaies sont mis en œuvre dans d’autres