The Financial Stability Board has released a report that calls for authorities to crack down on crypto conglomerates as part of nine draft policy recommendations for regulating the market. This recommendation says, “Authorities should ensure that crypto-asset service providers that combine multiple functions and activities, for example crypto-asset trading platforms, are subject to regulation, supervision and oversight that comprehensively address the risks associated with individual functions as well as the risks arising from the combination of functions, including requirements to separate certain functions and activities, as appropriate.” The FSB also updated its recommendations for oversight of stablecoins.