The European Systemic Risk Board (ESRB) has called for a prohibition on leveraged bets on crypto assets to prevent market shocks from threatening financial stability across the EU. The ESRB’s recommendations also encompass mandatory reporting from crypto-related entities and enhanced regulations for major industry players. With recent crypto market volatility, including Bitcoin’s sharp price drop and FTX exchange challenges, the ESRB warns of potential rapid systemic risks. The ESRB suggests introducing leverage limits for crypto-exposed investment funds, increasing collateral requirements for DeFi products and stablecoins, and curbing cryptocurrency companies’ ability to lend tokens to customers to limit leveraged speculation. While not legally binding, these proposals are likely to influence forthcoming versions of the Markets in Crypto Assets Regulation (MiCA) in the EU.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}