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Addressing a G-20 conference in Bali, Indonesia, US President Joe Biden called for strict regulation of cryptocurrencies, raising public awareness of the 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 oversees the international financial system, recommended strict cryptocurrency regulations on par with the traditional financial system. G-20 leaders backed the proposal at the conference.

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

Leaders also supported a uniform overall approach to markets and activities related to crypto regulation and oversight.

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 stressed that this would have a significant effect on the industry.

Following FTX’s bankruptcy filing led by Sam Bankman-Fried, several organizations, including BlockFi Genesis and Gemini, were impacted.

However, Buterin pointed out that the core blockchain layers and decentralized finance protocols were working “perfectly” despite the turmoil.

“What happened at FTX was, of course, a huge tragedy,” Buterin told Bloomberg. “That said, many in the Ethereum community also see the situation as validation of what they believed all along that anything centralized is suspect by default,” he said. These beliefs also included trusting in “open and transparent code above individual humans,” he added.

Football fans are ready to trade Fan Tokens during the 2022 FIFA World Cup

Nearly 48% of football fans want to trade Fan Tokens offered by sports clubs, according to a survey by cryptocurrency exchange KuCoin. The study covered 20,180 crypto investors between January and September 2022 and 8,022 KuCoin community members in November 2022.

Four in 10 investors identify as football fans in France, Spain, Vietnam, Germany and Brazil. In the past six months, about 35% of respondents had traded NFTs, and of those, 42% were interested in sports NFT

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