Standards Setter Warns On Unregulated Crypto-Assets

By Dawood Fakhir (May 11, 2022, 2:05 PM BST) -- A global standards setter warned on Wednesday that the Russia-Ukraine war has increased concerns that the market for crypto-assets largely remains unregulated even as the links between the digital sector and traditional financial markets are growing.

Klaas Knot, chairman of the Financial Stability Board, said that the international body — which makes recommendations about the global financial system — had warned major governments a week before the Russian invasion of Ukraine about the latest risks posed by cryptocurrencies to financial stability.

Knot, who is also the president of De Nederlandsche Bank, highlighted some challenges posed by the crypto-assets in his keynote...

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