The Need for a Designated Crypto Asset Regulator
Senior academic says a new taxonomy—and a new regulator—is needed to determine whether crypto assets should fall under existing financial frameworks.
In the aftermath of the global financial crisis, the G20 set out to implement reforms in the over-the-counter derivatives market aimed at introducing central clearing to minimize risk and counterparty credit exposures.
The group also imposed a stricter regime for credit rating agencies, particularly for ratings used by regulators. Syren Johnstone, executive director at the Faculty of Law at The University of Hong Kong, says this precedent could serve as the future roadmap for crypto regulation
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