Categories: Regulation

BigTech’s Foray into Cryptocurrency and Digital Payments Could Destabilize Global Finance

The Financial Services Board (FSB) has issued a report highlighting the potential impact of large tech firms participating in the crypto and digital payments arena. As part of its report, the FSB is calling for robust monitoring of the trend while issuing warnings related to the stability of the global financial architecture. Credit Crunch Concerns According to the FSB report, BigTech has little experience in the world of finance. Also, the Board argues that major tech companies tend to adopt a more data-driven approach…

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