FSOC recommends more regulation, oversight of digital assets
By 
Aaron Nicodemus2022-10-04T20:05:00
A new report by the Financial Stability Oversight Council (FSOC) identified three regulatory gaps in the current oversight of cryptocurrency, stablecoins, and other digital assets and recommended steps Congress and federal regulators should take to close them.
FSOC’s Report on Digital Asset Financial Stability Risks and Regulation, released Monday, was developed in response to President Joe Biden’s Executive Order 14067, “Ensuring Responsible Development of Digital Assets.”
The FSOC report concluded crypto-asset activities “could pose risks to the stability of the U.S. financial system” if they are not “paired with appropriate regulation.”
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