Latest Crypto News: Joe Biden Bats For Strict Crypto Rules; 48% Fans to Trade Fan Tokens During FIFA 2022, Finds Survey

Here are some major developments in the crypto space in the last few days.

Addressing a G-20 conference in Bali, Indonesia, US President Joe Biden has called for strict cryptocurrency regulations, creating public awareness about risks associated with digital currencies, and mitigating threats of potential financial instability.

He also called for a level-playing field while harnessing the benefits of innovation.

Biden’s statements come after the Financial Stability Board, a global body that monitors the international financial system, recommended stringent cryptocurrency regulations at par with the traditional financial system. The G-20 leaders supported the proposal at the conference.

Biden noted that the crypto ecosystem, including the so-called fiat currency-pegged stablecoins, must be closely monitored and subjected to robust regulation “to mitigate potential risks to financial stability.”

The leaders also supported a uniform global approach to markets and activities linked to crypto regulation and supervision.

Ethereum Co-Founder Says FTX Saga Offers Lessons For Crypto

Ethereum co-founder Vitalik Buterin said the collapse of FTX has lessons for the entire crypto industry. Buterin highlighted that it would have a significant effect on the industry.

Following Sam Bankman-Fried-led FTX's bankruptcy filing, several organisations, including BlockFi , Genesis, and Gemini, have been impacted.