Financial Stability
Hassan Abdalla, governor of the Central Bank of Egypt, stated that artificial intelligence transformations offer opportunities to boost analytical and supervisory capabilities but introduce risks like regulatory fragmentation and cyber threats. He called for robust digital infrastructure and modern legislative frameworks to address them. These remarks came at a high-level meeting in Abu Dhabi on financial stability.
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Major banking associations have sharply criticized the OCC's December 12 conditional approvals for national trust bank charters to crypto firms like Ripple, Fidelity, Paxos, BitGo, and Circle, citing regulatory arbitrage, absent FDIC insurance, and threats to systemic stability amid consumer confusion.
October 16, 2025 00:37