This refers to a governmental body responsible for overseeing and regulating the financial sector within a specific jurisdiction. Its mandate typically includes ensuring market stability, protecting consumers, and enforcing compliance with financial laws and regulations. These agencies supervise banks, insurance companies, and securities firms.
Context
Financial services agencies globally are actively addressing the emergence of digital assets, working to establish regulatory clarity and oversight. Their efforts are crucial in defining how cryptocurrencies and blockchain technology will be integrated into the existing financial system, balancing innovation with risk mitigation.
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