Privacy laws hinder cross-border crypto regulation: G20 risk watchdog
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Sixteen years after Bitcoin’s debut, regulators continue to face hurdles in accessing reliable crypto data, with privacy laws complicating efforts.
Privacy of data is among the key legal challenges to cross-border cooperation in regulating cryptocurrencies like Bitcoin and stablecoins, according to the G20’s risk watchdog.
The Financial Stability Board (FSB), a global financial authority funded by the Bank for International Settlements (BIS), has identified persistent gaps in how governments worldwide regulate the cryptocurrency market.
“This inconsistency creates challenges such as regulatory arbitrage, data gaps, and market fragmentation,” the FSB wrote in a 107-page peer review report released on Thursday.
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