The rapid expansion of crypto derivatives and leverage trading requires unified global standards to mitigate structural risks within multifunction digital asset intermediaries.
A recent paper from the Financial Stability Institute (FSI) warned that the rapid growth of complex crypto services by intermediaries requires international rules to prevent regulatory loopholes. Major cryptoasset service providers (CASPs) now serve as multifunction cryptoasset intermediaries (MCIs), offering services similar to traditional banking, which pose significant risks to financial stability, researchers found in the study by the FSI of the Bank for In