US Financial Stability Board: it is necessary to tighten control over the activities of crypto companies

The regulation of companies engaged in cyber-currency activities, as well as payment systems using digital currency, should be tightened, according to representatives of the US Financial Stability Board.

In its report, the department outlined the risks of using such assets, noting that at the moment many global financial institutions are engaged in the release of national cryptocurrencies. The digital version of money will allow faster payments and maintain the status of fiat funds, but can disrupt the balance of the financial system if stablecoins proliferate too quickly. For this reason, financial regulators should pay close attention to companies that work with cryptocurrencies, experts say.

For example, Council analysts stressed that “interference” in the provision of critical services to the public by third-party firms could negatively affect the stability of monetary policy. The regulator also called for more active monitoring of “innovative” financial solutions and services related to digital instruments, as well as assess their impact on money