In an Oct. 3 meeting of the FSOC, Jonathan Rose, a senior economist at the Federal Reserve Bank of Chicago, said the FSOC had released a report in accordance with President Joe Biden’s executive order on crypto, detailing potential financial stability risks of digital assets and regulatory gaps. The report identified regulatory gaps including the spot market for cryptoassets that were not securities subject to “limited direct federal regulatory” — hinting at lawmakers stepping in to prevent possible market manipulation and conflicts of interest.
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Source: Cryptocurrency - investing.com
