FTX and collapses like Signature, Silvergate and Silicon Valley Bank show need for stronger consumer protection, governance norms, the International Monetary Fund said in its Global Financial Stability Report
According to the IMF, regulations should include with "strict prudential requirements" for stablecoin issuers following the depegging of USD Coin and Dai.
Sen. Elizabeth Warren (D-Mass.) and Congresswoman Alexandria Ocasio-Cortez (D-New York) want to know why crypto companies, like bankrupt crypto lender BlockFi and stablecoin issuer Circle, banked at now-collapsed Silicon Valley Bank.
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