Altcoin News by Thebittimes.Com

A consultation paper dated October 2023 shares the Financial Services Commission (FSC) of East African country Mauritius started collecting feedback about the inclusion of metaverse within the financial services industry. Over the month of November, the FSC will gather public comments on the strategic developments and repercussions of what the country describes as the virtual realm of infinite possibilities. Addressing future orientations Some of the questions posed in the public consultation include inquiries about the anticipated impact of the metaverse on the financial services industry in the short and medium term, potential business opportunities for financial institutions, specific services not available in the physical world that users would like in the metaverse , strategies for enhancing collaboration between financial institutions and other sectors and perceived obstacles to widespread metaverse financial services adoption. You might also like: Maur...

Canadian regulator revealed it is considering amendments to its capital and liquidity approach concerning crypto assets. The proposed rules aim to streamline how institutions handle potential risks associated with crypto currencies, outlining four distinct categories of digital assets and their respective capital treatment. In a July 26 news release from Ottawa, Canada, the Office of the Superintendent of Financial Institutions (OSFI) has proposed revisions to its capital and liquidity approach for crypto-assets. It aims to align with the evolving risk landscape and international developments. The OSFI unveiled two draft guidelines. One is for federally regulated deposit-taking institutions. Another is for insurers, outlining the regulatory capital treatment of crypto-asset exposures. In line with @BIS_org’s new banking standards for # crypto -asset exposures, we’ve drafted guidance tailored for Canada. Share your feedback on proposed changes to our capital and liquidity approa...