FSOC warns about centralization risks in the stablecoin market, highlighting the dangers of dominance by a few issuers.
The Financial Stability Oversight Council (FSOC) warns that stablecoins could pose a threat to the financial system. They emphasize the need for regulatory oversight to mitigate potential risks associated with widespread stablecoin adoption. The report highlights vulnerabilities in the currently unregulated stablecoin market.
Gluwa CEO advocates for a borderless financial system for Nigeria's creative industry during a UN General Assembly side event in New York on September 26, 2024.
74% of U.S. voters believe the financial system lacks transparency and over 60% feel it does not support underserved communities. The survey indicates dissatisfaction and a call for the adoption of new technologies.
Global bank run continues as discussed in FWB098 podcast, flirting with Bitcoin's role in the financial system.
