Cryptocurrency exchanges and fintech companies that hold digital assets for consumers will soon be held to the same rigorous governance standards as banks and other established financial services providers. This includes a mandate to provide services honestly, fairly, and efficiently, while actively avoiding conflicts of interest.
These changes are part of a long-awaited policy aimed at ensuring the obligations of crypto providers to safeguard consumers. Exchanges dealing with bitcoin and other crypto assets will be mandated to satisfy minimum capital adequacy requirements. This should help bolster investor confidence and financial stability within the rapidly evolving cryptocurrency market.
