Prudential Coordination involves the cooperative efforts among financial regulators and supervisory authorities to align policies and oversight practices. This collaboration aims to address risks that span multiple jurisdictions or financial sectors, particularly those with systemic implications. For digital assets, it seeks to create a consistent global approach to managing financial stability concerns.
Context
News frequently reports on international bodies like the Financial Stability Board or the Basel Committee on Banking Supervision engaging in Prudential Coordination regarding digital assets. The rapid growth and cross-border nature of crypto markets necessitate unified regulatory responses to prevent regulatory arbitrage and ensure a level playing field. This collaborative effort is essential for establishing robust oversight of a globally interconnected financial landscape.
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