Stablecoin adoption greater risk for developing nations
A new report warns that the adoption of global stablecoins in emerging markets and developing economies poses significant financial risks and regulatory challenges. Go to Source
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IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed
According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of bitcoin. However, the United Nations financial agency warns that if its legal tender … Read more
South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’
According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service providers. Instead, the regulator wants financial institutions to only consider “de-risking” when the … Read more
