Supervisory convergence denotes the process where different financial regulatory authorities align their supervisory practices, standards, and interpretations to achieve consistent oversight. This alignment aims to reduce regulatory arbitrage, enhance market stability, and ensure a level playing field across jurisdictions. In the digital asset sector, it is crucial for establishing uniform approaches to overseeing crypto businesses. Such convergence fosters a more predictable and secure global financial ecosystem.
Context
Crypto news frequently reports on supervisory convergence efforts among global financial watchdogs to address the cross-border nature of digital asset markets. Discussions often concern the challenges of harmonizing diverse national regulatory philosophies and legal frameworks. A critical future development involves the establishment of international best practices and common frameworks for digital asset supervision.
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