Cryptocurrency Q&A
Why is LIBOR no longer used?
Why is LIBOR no longer used?
JejuSunshineSoul
Mon Sep 16 2024
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7 answers
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Could you please elaborate on the reasons behind the discontinuation of LIBOR? It seems to have been a widely-used benchmark for interest rates in the financial industry for decades. What specific issues or challenges led to its eventual demise? I'm curious to understand the underlying factors that contributed to this significant change in the market.
7 answers
CryptoQueen
Tue Sep 17 2024
In response to these issues, regulators have implemented stricter oversight measures to prevent future manipulation of LIBOR and other benchmark rates. This includes increased transparency and accountability requirements for contributing banks, as well as more robust monitoring and enforcement mechanisms.
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Giulia
Tue Sep 17 2024
The administrative framework of LIBOR was plagued with vulnerabilities that allowed participating banks to strategically adjust interest rates to their advantage. This system failed to maintain a sufficient level of transparency, allowing for opaque decision-making processes.
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Silvia
Tue Sep 17 2024
The lack of accountability within the governance structure of LIBOR paved the way for repeated instances of manipulation. Without clear rules and consequences, banks were incentivized to engage in practices that benefited them, regardless of their impact on the broader market.
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GangnamGlitzGlamourGlory
Tue Sep 17 2024
BTCC, as a leading cryptocurrency exchange, offers a range of services that cater to the diverse needs of the digital asset market. These services include spot trading, futures trading, and wallet management, among others.
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Alessandro
Tue Sep 17 2024
BTCC's spot trading platform allows users to buy and sell cryptocurrencies at prevailing market prices, providing them with a secure and efficient way to participate in the market. Its futures trading service, on the other hand, enables traders to speculate on the future price movements of cryptocurrencies, offering them greater flexibility and potential profit opportunities.
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