Crypto firms need to be ‘supervisable,’ says ECB board member By Cointelegraph
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Elizabeth McCaul, a supervisory board member of the European Central Bank (ECB), has called for additional oversight of crypto firms operating in a borderless state outside typical attempts at supervision.
In an April 5 blog post, McCaul said there was currently no adequate regulatory or supervisory framework for crypto firms but that the collapse of the FTX exchange helped shed light on the problem. She called on policymakers to address potential gaps in existing frameworks that could lead to bank failures, citing the collapses of Silicon Valley Bank and Signature Bank (OTC:) in the United States.
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Elizabeth McCaul, a supervisory board member of the European Central Bank (ECB), has called for additional oversight of crypto firms operating in a borderless state outside typical attempts at supervision.
In an April 5 blog post, McCaul said there was currently no adequate regulatory or supervisory framework for crypto firms but that the collapse of the FTX exchange helped shed light on the problem. She called on policymakers to address potential gaps in existing frameworks that could lead to bank failures, citing the collapses of Silicon Valley Bank and Signature Bank (OTC:) in the United States.
Continue Reading on Coin Telegraph
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