Regulator seeks feedback to enhance regulation of fiat-referenced crypto-asset arrangements

By Darcy Ammerman and Courtney Aucoin (June 27, 2023, 11:28 AM EDT) -- Nearly five years ago, the Financial Stability Board (FSB) concluded that crypto-assets do not pose a material risk to global financial stability (see “Crypto-asset markets: Potential channels for future financial stability implications,” FSB). Since 2018, different sources of risk have emerged in the crypto world which have brought forward new operational, cyber and governance concerns that could threaten Canadian and global financial systems (see “2021 Global Financial Stability Report,” International Monetary Fund (IMF), p. 45)....